Key Highlights
- Champion Breweries is acquiring the Bullet brand portfolio to expand its reach across 14 African markets.
- The acquisition is funded by a N58 billion capital raise, including an ongoing N42 billion public offer at N16 per share.
- The deal includes Bullet Black, Nigeria’s leading Ready-To-Drink alcoholic beverage, and Bullet Blue, a popular caffeine-free energy drink.
- Production will initially continue with Bullet’s existing European partner, with plans for phased localization in Nigeria.
Champion Breweries Plc is making a strategic move to bolster its presence in the African beverage market through the acquisition of the Bullet brand portfolio. The acquisition is being financed by an ongoing N42 billion public offer of ordinary shares at N16 per share, which remains open until January 21, 2026.
The public offer forms the second part of Champion's N58 billion capital-raising program, complementing an earlier rights issue. According to the company, the funds raised will support the Bullet acquisition and strengthen working capital for operations, innovation, and market expansion.
The acquisition is structured as an asset carve-out, transferring ownership of Bullet’s brands, trademarks, product formulas, packaging rights, and commercial IP, alongside distribution agreements across 14 African markets. Notably, the deal does not include the acquisition of a manufacturing facility.
Dr. Inalegwu Adoga, Managing Director of Champion Breweries Plc, emphasized the strategic importance of the transaction. “The Bullet acquisition is strategically important because it adds proven brands, regional scale, and foreign-currency earnings through an asset-light structure. It strengthens Champion’s platform,” he stated.
The acquired portfolio includes Bullet Black, recognized as Nigeria’s number one Ready-To-Drink (RTD) alcoholic beverage, and Bullet Blue, a leading caffeine-free energy drink. This gives Champion, which is part of the enJOYcorp Group, immediate access to a pan-African route-to-market.
Production will initially continue through Bullet’s existing European manufacturing partner, facilitating a seamless integration. Champion Breweries plans a phased localization of production in Nigeria over time. This move is expected to reduce costs and increase local employment opportunities.
The acquisition reflects Champion Breweries' ambition to scale African consumer brands into regional and global markets. Market analysts anticipate that the move will position the company for increased revenue and profitability in the coming years.