Champion Breweries projects five-fold revenue surge after acquiring Bullet RTD brand 

NIGERIA – Champion Breweries Plc has projected more than a five-fold increase in revenue and over ten times growth in profit after tax (PAT) following its acquisition of Bullet, Nigeria’s leading ready-to-drink (RTD) alcoholic brand.  

The announcement was made during the company’s “Facts Behind the Figures” session on the Nigerian Exchange (NGX). 

The deal is expected to contribute more than 70 percent of Champion Breweries’ topline and significantly boost its foreign currency earnings across 14 African markets. In the first half of 2025, the company recorded a 111 percent surge in revenue and a 692 percent turnaround in PAT, reflecting disciplined execution and setting the stage for continued growth alongside the Bullet acquisition. 

“This is a transformative moment for Champion Breweries,” said Inalegwu Adoga, Managing Director of Champion Breweries. “Bullet gives us scale, high-margin growth, and international reach. With this acquisition, we are evolving from a strong regional brewer into a multi-market, multi-category growth platform with international relevance.” 

Champion Breweries’ majority shareholder, enJOYcorp, underscored the strategic importance of the deal. “Bullet expands Champion’s reach across Africa, diversifies its earnings into foreign currencies, and strengthens its portfolio with trend-driven products,” said David Butler, Managing Director of enJOYcorp and Board Member of Champion Breweries. 

To support the acquisition and future expansion plans, Champion Breweries has launched a N58 billion capital raise programme, comprising a N42 billion public offer and a N16 billion rights issue. Proceeds will fund the Bullet deal, working capital, market expansion, and sustainability investments. 

The company is also investing in technology upgrades, including Enterprise Resource Planning (ERP) systems, returnable packaging solutions, renewable energy, and logistics transformation. Sustainability plans include transitioning its Uyo brewery to solar power, exploring compressed natural gas (CNG) for its logistics fleet, and reducing plastic waste through packaging innovation. 

Champion Breweries shares have gained 302 percent on the NGX over the past year, supported by its transformation agenda and refreshed governance structure, including new independent directors aligned with global best practices. 

Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.