Nigerian Breweries, the Nigerian subsidiary of Heineken, has acquired the remaining 20% of Distell Wines and Spirits Nigeria (DWSN), taking full control of the business. The final stake was purchased from minority shareholders Ekulo International and Next International Nigeria, who each held 10%. The acquisition, finalized through a sale and purchase agreement, consolidates DWSN entirely under Nigerian Breweries’ control.
This move completes the transaction that began in June 2024, when Nigerian Breweries acquired an 80% stake in DWSN and took over the import business of Distell International Limited in Nigeria (inside.beer, 1.6.2024). The 2024 deal followed approval from the South African Reserve Bank, which also paved the way for Heineken Beverages Holdings Limited to transfer its shareholding in DWSN to Nigerian Breweries.
The latest development enables Nigerian Breweries to streamline decision-making and operations as it pursues a strategic shift beyond beer into the wines, spirits, and ready-to-drink (RTD) segments. The company said relocating DWSN’s manufacturing from rented sites to its own premises will allow it to increase production efficiency and capitalize on economies of scale.
With the acquisition, Nigerian Breweries will have access to both the local production and the importation of wines, spirits, and flavoured alcoholic beverages brands from South Africa, including Amarula Crèam Liquor, Nederburg, Drostdy-Hof, 4th Street, Bain’s Whiskey, Knight Whiskey, Scottish Leader Whiskey, Chamdor wine ranges, Hunters, and Savanna.The company sees these multi-category portfolios as critical for growth in Nigeria’s evolving beverage market.
The full buyout also aligns with Heineken’s broader African strategy. Two years ago, the Dutch brewing giant finalized its EUR2.4 billion (USD2.53 billion) acquisition of Distell, leading to the formation of Newco — a 65%-owned entity combining its South African business with operations across nine African markets, including Nigeria (inside.beer, 9.3.2023).
Despite recent financial setbacks, including a record net loss of NGN145 billion (USD120 million) due to naira depreciation, Nigerian Breweries remains committed to long-term growth. CEO Hans Essaadi emphasized last year that acquiring Distell Nigeria was essential to capturing opportunities in the fast-growing wine and spirits market.
