Champion Breweries Plc has officially launched a N42 billion public offer of ordinary shares at N16 per share, following approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX). The offer, which runs from January 8 to January 21, 2026, allows both institutional and retail investors to participate in the company’s next growth phase as it prepares to acquire the Bullet brand portfolio and strengthen its presence across Africa.
The public offer follows a N15.9 billion rights issue to existing shareholders, forming the first phase of a two-step capital-raising strategy. Champion Breweries is offering 2.625 billion shares under the public offer, with proceeds earmarked for acquiring the Bullet brand portfolio, which includes trademarks, recipes, and commercial rights across African markets. Additional funds will support working capital needs, marketing, innovation, distribution expansion, and capacity growth initiatives.
The company has posted impressive financial results over recent years, with revenue rising from N12.7 billion in 2023 to N20.9 billion in 2024, while net income grew from N370 million to N817 million. In the first half of 2025, revenue reached N15.9 billion, and net income soared to N2.3 billion, highlighting the strength of Champion’s operating model and strategic execution.
Dr Inalegwu Adoga, Managing Director of Champion Breweries, said the public offer presents an opportunity for investors to share in the company’s next phase of growth. “With the Bullet acquisition, we are combining nearly 50 years of brewing heritage with a proven pan-African RTD and energy drink platform,” he noted.
David Butler, Group Managing Director of enJOYcorp, explained that the asset carve-out structure for Bullet allows Champion to scale quickly and unlock foreign exchange earnings without heavy upfront investment in new plants. “This public offer enables a wider pool of investors to participate in that strategy,” he added.
The public offer is being managed by Rand Merchant Bank Nigeria Limited as Lead Issuing House, with FBNQuest Merchant Bank Limited, FCMB Capital Markets Limited, CardinalStone Partners Limited, Greenwich Merchant Bank Limited, Chapel Hill Denham Advisory Limited, Comercio Partners Capital Limited, and Fortress Capital Limited serving as Joint Issuing Houses. Africa Prudential Plc is acting as the registrar for the offer.
This move positions Champion Breweries to consolidate its market presence, strengthen its brand portfolio, and provide investors, including MSMEs and retail participants, with access to one of Nigeria’s high-growth beverage companies during a critical expansion phase.
