Nigeria: Heineken owned Consolidated Breweries buys majority stake in Nigerian Benue Brewery

Consolidated Breweries, a Nigerian brewery majority owned by Dutch brewing giant Heineken International, has secured the nod from the Securities and Exchange Commission (SEC) for the purchase of a majority stake in Benue Brewery, Drinks Business Review reported on August, 1.

However, post the transaction, Benue Brewery will continue to keep its identity, board and management, and will not be completely integrated into the Consolidated's business.

Benue Brewery has a brewing capacity of 0.02 million hectolitres and fermentation capacity of 0.02 million hectolitres. The storage capacity is 0.02 hectolitres and bottling capacity of 0.016 million hectolitres.

Also based in Makurdi, Nigeria this brewery's beer portfolio features More, William and Malta Gold brands.

Consolidated Breweries also said that it will bolster its market position in Nigeria by expanding the geographic reach of its operations.

Moreover, the brewery can immediately boost its production capacity, strengthening its base even more for growth in future.

Consolidated Breweries chairman Odutola Olurin said this acquisition will increase the group's production capacity, expand the distribution of the brand portfolio to effectively cover the middle belt and far eastern parts of the country.

03 August, 2011