Champion Breweries Plc has finalised the acquisition of the Bullet brand portfolio from Sun Mark, in a move that significantly strengthens its ambition to become a diversified, pan-African beverage powerhouse.
The deal, first announced in August, grants Champion full ownership of Bullet’s brand assets, trademarks, formulations, and commercial rights through an asset carve-out arrangement. The assets are now housed in a newly incorporated Netherlands-based entity in which Champion holds a majority stake, while Vinar N.V., the majority shareholder of Sun Mark, retains a minority interest.
The acquisition was backed by successful capital-raising initiatives, including a Rights Issue and Public Offer, which bolstered the company’s balance sheet and provided funding for its strategic expansion.
Chairman, Mr. Imo-Abasi Jacob, described the development as a watershed moment for the company.
“The completion of our public equity raises, together with the formal close of the Bullet acquisition, marks a defining moment for Champion Breweries. The support from shareholders and investors reflects confidence in our long-term strategy to build a diversified, high-growth beverage platform with pan-African scale,” he said.
He added that the company’s priority is disciplined execution, seamless integration, and sustainable value delivery across markets.
Champion also acknowledged the regulatory support of the Securities and Exchange Commission Nigeria, Nigerian Exchange Group, Federal Competition and Consumer Protection Commission, and the Akwa Ibom State Government, alongside its financial and legal advisers.
With distribution across 14 African markets, the Bullet portfolio positions Champion to scale beyond Nigeria, particularly in the fast-growing ready-to-drink alcoholic and energy drink segments. Bullet Black currently leads Nigeria’s ready-to-drink alcoholic beverage category, while Bullet Blue has gained traction in the energy drink market across several African countries.
The transaction fast-tracks Champion’s transition from a regional brewer to a multi-category consumer platform with continental reach. It is also expected to enhance foreign exchange earnings, strengthen distribution networks, and improve supply chain efficiencies.
The acquisition structure allows rapid integration without heavy upfront manufacturing capital expenditure, while providing a pathway to future local production that could position Nigeria as a regional export hub.
Rand Merchant Bank Nigeria Limited served as Coordinating Financial Adviser and Lead Issuing House for both the Public Offer and Rights Issue, while Banwo & Ighodalo acted as Lead Legal Advisers.
