Following approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX), Champion Breweries Plc has launched a N42 billion public offer of ordinary shares at N16 per share.
The Public Offer provides both institutional and retail investors the opportunity to participate in Champion’s next growth phase, as the company prepares to acquire the Bullet brand portfolio and expand its presence across Africa.
This offering follows a N15.9 billion rights issue to existing shareholders, marking the first stage of Champion’s two-step capital-raising strategy.
Champion is offering 2.625 billion shares at N16 each, with the offer period running from January 8 to January 21, 2026.
Proceeds from the public offer, together with funds raised from the rights issue, will finance the acquisition of the Bullet brand portfolio through an asset carve-out, transferring ownership of Bullet’s brands, trademarks, recipes, and commercial rights across African markets to Champion. The funds will also support working capital needs and growth initiatives, including route-to-market expansion, marketing, innovation, and capacity building.
Champion has recorded strong financial growth in recent years. Revenue rose from N12.7 billion in 2023 to N20.9 billion in 2024, while net income increased from N370 million to N817 million. In the first half of 2025, the company posted revenue of N15.9 billion and net income of N2.3 billion, a record performance highlighting the strength of its operating model.
Dr. Inalegwu Adoga, Managing Director of Champion Breweries, described the public offer as an opportunity for investors to participate in the company’s next growth chapter.
“The opening of our public offer invites investors to share in Champion’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 said.
David Butler, Group Managing Director of enJOYcorp, added that the asset carve-out structure allows the company to rapidly unlock foreign exchange earnings and scale without significant upfront investment in new plants.
“Champion’s story reflects disciplined execution and smart capital deployment. The Bullet asset carve-out enables quick scale and FX earnings without heavy upfront investment. This public offer gives a wider pool of investors the chance to be part of that strategy,” Butler explained.