Champion Breweries Plc has officially opened its ₦42 billion Public Offer of ordinary shares at ₦16.00 per share, designed to fund the acquisition of the Bullet brand portfolio. The offer, which received approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX), opened on January 8, 2026, and will close on January 21, 2026.

The company explained that net proceeds from the Public Offer, together with funds raised from its earlier ₦15.9 billion Rights Issue, will be deployed primarily towards acquiring Bullet’s brands, trademarks, recipes, and commercial rights across African markets through an asset carve‑out arrangement. Additional funds will be used to support working capital, marketing, innovation, and capacity expansion.

Champion Breweries described the transaction as the next phase of its growth journey, offering both institutional and retail investors the opportunity to participate in its expansion. The combined ₦58 billion capital raise is expected to strengthen the company’s balance sheet and accelerate its footprint across Africa.

Applications for the Public Offer can be submitted through designated receiving agents or electronically via the NGX Invest platform, with Access Bank serving as the receiving bank.

Commenting on the development, Dr. Inalegwu Adoga, Managing Director of Champion Breweries, said the Public Offer represents a significant milestone. “This Public Offer is an invitation for investors to join us in the next phase of growth. With the Bullet acquisition, we are combining nearly 50 years of brewing heritage with a proven pan‑African RTD and energy drink platform,” he stated.

David Butler, Group Managing Director of enJOYcorp, added that Champion’s disciplined execution and capital‑efficient strategy will allow the company to unlock foreign exchange earnings and scale quickly. He emphasized that the carve‑out structure for Bullet ensures growth without heavy upfront investment in new plants.

Bullet, Nigeria’s leading ready‑to‑drink alcoholic beverage and one of the top energy drink brands across 14 African countries, generates a significant portion of its revenues in foreign currency. This provides Champion with a natural hedge against FX volatility and a strong platform for regional expansion.

Champion Breweries has reported steady growth in recent years. Revenue rose from ₦12.7 billion in 2023 to ₦20.9 billion in 2024, while net income increased from ₦370 million to ₦817 million over the same period. In the first half of 2025, the company posted ₦15.9 billion in revenue and ₦2.3 billion in net income, marking record performance and underscoring the resilience of its operating model.

The Public Offer is led by Rand Merchant Bank Nigeria Limited as Lead Issuing House, with FBNQuest Merchant Bank, FCMB Capital Markets, CardinalStone Partners, Greenwich Merchant Bank, Chapel Hill Denham Advisory, Comercio Partners Capital, and Fortress Capital serving as Joint Issuing Houses. Champion Breweries advised prospective investors to carefully review the Prospectus and consult financial advisers before making investment decisions.