Guinness Nigeria Acquires Distribution Rights of Diageo’s IPS Brands

Guinness . Alcoholic beverage. Dark Ale

Guinness  Nigeria  Plc has agreed  to the  acquisition  of  the  distribution  rights  to  Diageo  Plc’s  international Premium Spirits  (IPS)  brands in Nigeria . . .

As part of the transaction, Guinness Nigeria  will  also  take  over  various  assets  including  the  current  inventory  of  Diageo  Brands  Nigeria  Limited,  the  wholly-owned  Diageo  business  which  currently  distributes  and  markets  the  IPS  brands   in   Nigeria.

Diageo . Brands

The  consideration   for   the  transaction is  approximately N2.35bn. The  transaction  is  expected  to  be  concluded  by  31st  December  2015 and  the new  distribution  agreement  for  the  IPS  brands  will become  effective  on 1st  January  2016 subject  to  receiving  all  regulatory approvals.

In a statement, Peter Ndegwa, the Managing Director/CEO of Guinness Nigeria Plc said:

Guinness Nig . Peter Ndegwa MD:CEO

“The transaction we are announcing today will  facilitate the achievement  of our  ambition  to  create the  best performing, most trusted and respected consumer products company in Nigeria  by  leveraging  the  strength  of  our  unparalleled  portfolio  of  beer,  adult  premium  non-alcoholic  drinks (APNADs), ready to drink (RTDs) as well as spirits. 

The integration of  the Diageo IPS brands with  the  Guinness  Nigeria brand  portfolio best fits our  strategy  of  filling  the  gap  in  our  total  beverage  alcohol  portfolio,  and  allows  us  to  compete  across segments within the market”

– Peter Ndegwa, MD/CEO Guinness Nigeria Plc

MBR

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Guinness Nigeria Acquires Distribution Rights of Diageo’s IPS Brands