Champion Breweries Gets Shareholders’ Nod for ₦45 Billion Capital Raise

Champion Breweries Plc has secured shareholder approval to raise ₦45 billion in fresh capital as part of its strategy to scale operations, enhance competitiveness, and reposition the company for long-term growth. The decision was reached at the company’s Extraordinary General Meeting (EGM), held in a virtual format, where investors overwhelmingly supported the capital injection plan.

The approved funds are expected to be raised through a combination of debt instruments, including bonds, notes, and other forms of capital market securities. According to the company’s board, the capital raise will be executed in tranches, with flexibility to explore both local and international markets, depending on prevailing conditions and investor appetite.

Champion Breweries, one of Nigeria’s prominent regional brewers, is positioning itself to deepen market penetration and refresh its brand portfolio, particularly as the country’s beverage industry becomes increasingly competitive. The new capital is projected to support product innovation, expand distribution infrastructure, and possibly finance strategic acquisitions that align with its long-term objectives.

During the EGM, shareholders also gave their consent for the company to increase its authorised share capital to five billion ordinary shares of 50 kobo each. This development paves the way for future equity offerings and provides room for flexibility in attracting new investors and partners.

Speaking at the meeting, Chairman of the Board, Imo Abasi Jacob, assured shareholders that the new capital structure would strengthen the company’s financial base and provide it with the agility required to pursue both organic and inorganic growth. He noted that Champion Breweries is entering a new phase that demands sustainable investment, and the fresh funds will allow the company to respond more effectively to market dynamics.

Managing Director Inalegwu Adoga highlighted that the capital raise is not merely a financial exercise, but a strategic pivot that will ensure the company continues to build on its positive momentum. He explained that in addition to financing expansion, part of the funds would be channeled toward acquiring intellectual property and other brand assets that can further differentiate Champion in the Nigerian market.

The capital raise also aligns with the broader vision of EnjoyCorp Limited, the parent company and majority shareholder, which recently took control of Champion Breweries as part of its expansion into the beverage and lifestyle space. Since the acquisition, EnjoyCorp has made clear its intention to transform Champion Breweries into a stronger, more modern competitor in the national market. The latest move is seen as a continuation of that transformation.

Investors expressed optimism about the capital raise, seeing it as a timely and necessary decision to strengthen the company’s prospects in a challenging economy. Some industry analysts have also interpreted the development as a positive indicator of Champion’s ambition to rise above regional recognition and claim a more substantial share of the national market.

In the build-up to the EGM, the company recorded a strong financial performance in the first half of 2025, which many believe contributed to investor confidence. Champion Breweries posted significant growth in revenue and net profit, buoyed by increased demand for its beer and malt products, as well as ongoing cost-management efforts. The robust earnings provided the company with a firmer foundation upon which to launch its expansion plans.

With this fresh capital expected to arrive in phases, Champion is expected to diversify its product offerings and introduce improved packaging and branding to appeal to a wider demographic. The management has also hinted at plans to invest in greener production technologies, in line with global best practices and increasing environmental awareness among consumers.

As part of the resolution passed at the EGM, the board has been authorised to determine the structure, pricing, and timing of the capital raise, subject to regulatory approvals. The company will also be able to negotiate terms with lenders, underwriters, and financial advisers to ensure a cost-effective and transparent process.

The move marks one of the most significant steps in the brewery’s history, as it transitions from a primarily regional brand to a more prominent player in the Nigerian beverage sector. While challenges remain—particularly around inflation, competition, and fluctuating consumer demand—the leadership of Champion Breweries believes the capital raise provides a critical springboard for future growth.

Champion Breweries is expected to announce further details on the timing of the fund-raising programme, as well as any forthcoming strategic partnerships or acquisitions that may arise from the new financial capacity. For shareholders, the move signals a bold and forward-looking direction, aimed at delivering greater value and ensuring long-term sustainability.