Champion Breweries Signs N15.9bn Rights Issue Deal To Fund Bullet Brand Acquisition

Champion Breweries Plc has taken a significant step in its growth drive with the formal signing of transaction documents for its proposed N15.9 billion Rights Issue, a capital raise designed to fund the acquisition of the fast-growing Bullet brand and unlock new market opportunities at home and abroad.

The signing ceremony, held on Friday, November 14, 2025, marks the start of the first phase of a two-step capital programme that will be followed by a Public Offer. The rights issue, approved at the company’s Extraordinary General Meeting on July 24, 2025, will see the brewery issue 994,221,766 ordinary shares at N16 per share, on a 1-for-9 basis to eligible shareholders whose names appeared on the register as of September 4, 2025.

Bullet Acquisition Central to Champion Breweries’ Expansion Strategy

Dr. Adoga Inalegwu, Managing Director/CEO of Champion Breweries, said that the initiative represents a major milestone for the company’s long-term competitiveness and its ambition to broaden its footprint across African and international markets.

“This rights issue marks a turning point for Champion Breweries. Completing the rights issue for the Bullet acquisition gives us the scale and strength to compete beyond Nigeria, unlock high-margin growth, and build a platform that resonates internationally,” he said.

Dr. Inalegwu emphasized that the offer period will be time-bound, encouraging shareholders to take up their rights early to support the successful closure of the Bullet transaction before year-end.

Transaction Structure Backed by Strong Syndicate of Issuing Houses

The capital raise is led by Rand Merchant Bank Nigeria Limited as Lead Issuing House, supported by a syndicate of Joint Issuing Houses: FBNQuest Merchant Bank Limited, CardinalStone Partners Limited, Investment One Financial Services Limited, and CFG Maynard Limited.

Champion Breweries stated that full subscription details and allotment processes will be communicated in the forthcoming Rights Circular. The company urged shareholders and potential investors to review the document carefully and seek professional advice where necessary.

With this Rights Issue, the brewer positions itself for stronger market penetration, improved scale, and a refreshed product portfolio that strengthens its competitive advantage.