Champion Breweries PLC, a subsidiary of enJOYcorp, has announced an acquisition agreement to purchase the brand assets and intellectual property of the Bullet range of ready-to-drink (RTD) alcoholic and energy beverages from Sunmark Intentional Limited (Sun Mark Ltd. ). The acquisition was disclosed via a disclosure to the Nigerian Exchange Limited on August 20, 2025.
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According to the company, the acquisition aligns with the its strategy to expand into high-growth food and beverage sectors.
The transaction, structured as an asset carve-out, will see the assets held in a newly incorporated Dutch company, where Champion Breweries will hold a majority stake. Vinar N.V., a Belgian entity and majority shareholder of Sun Mark, will retain a minority interest. Bullet, currently available in over 14 African markets including Nigeria, Cameroon, and Ghana, boasts strong market presence with Bullet Black RTD leading in Nigeria and Bullet Blue ranking among the top six energy drinks.
This acquisition follows a special resolution passed at the Extra-Ordinary General Meeting (EGM) on July 24, 2025, authorizing the company to pursue the acquisition and other initiatives. The EGM approved a capital increase of up to 5,000,000,000 ordinary shares and additional debt capital of ₦45,000,000,000 to fund strategic initiatives, including this acquisition.
The acquisition awaits regulatory approval from the Federal Competition and Consumer Protection Commission (FCCPC).
Post-acquisition, Champion Breweries plans to integrate Bullet’s financial performance, anticipating immediate benefits like foreign exchange earnings and distributor leverage, alongside long-term gains from an integrated supply chain and enhanced market presence.
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