We’re focusing on Expansion of our Revenue and Brand — CEO of NBPlc
According to Bel, Nigerian Breweries seeks to expand its footprint without adopting inorganic growth method which is the use of mergers, acquisitions, and take-overs to increase or speedup growth in a particular sector or market.
Speaking during the company’s annual general meeting held at the Civic centre, Victoria Island, Lagos recently, the CEO noted that the company is depending on its resources and portfolio to initiate viable growth opportunities.
“We are a beer and malt business mainly. We have a soft drink operation; we have ready-to-drinks. We would always be open to opportunities, but today, we have the right breweries, the right footprint, and the right brands. I think there’s a lot of growth we can deliver with our own assets, without the need to look at any integration. So, for the time being, we are looking at how we expand our own revenue, our own volume with our own assets and brands.”
According to Nairametrics, despite having no plans to acquire or merge with any company to accelerate its expansion across Nigeria this time, Nigerian Breweries Plc has a history of inorganic growth.
It was gathered that the company acquired majority shares interests in Sona Systems Associates Business Management Limited (Sona Systems) and Life Breweries Limited from Heineken N.V. in October 2011 after Heineken had previously acquired controlling interests in five breweries in Nigeria from Sona Group in January 2011. The acquisition, it was learnt, makes Sona Systems and Life Breweries become part of Nigerian Breweries Plc with three brands, namely: Goldberg lager, Malta Gold and Life Continental lager.
It could also be recalled that Nigerian Breweries merged with ConsolidatedBreweries Plc on December 31, 2014, adding three breweries in Ijebu-Ode, Awo-Omama, and Makurdi to the company, alongside three brands: 33 Export Lager, Williams Dark Ale, Turbo King Stout, MoreLager, Breezer, Himalt, and Maltex (the first Nigerian malt drink).