Champion Breweries to acquire Bullet brand assets

NIGERIA – Champion Breweries Plc has entered into an agreement to acquire the brand assets and intellectual property rights of the Bullet range of alcoholic and energy beverages from Sun Mark International Limited. 

The subsidiary of enJOYcorp disclosed the transaction in a filing to the Nigerian Exchange (NGX) on August 20, 2025, noting that the acquisition supports its strategy to diversify into high-growth food and beverage segments. 

The deal is structured as an asset carve-out  and will see the transfer of Bullet’s assets into a newly incorporated company based in the Netherlands. Champion Breweries will hold a majority stake, while Vinar N.V., a Belgian entity and majority shareholder of Sun Mark, will retain a minority interest. 

The company stated that the acquisition remains subject to regulatory approvals, including clearance from the Federal Competition and Consumer Protection Commission (FCCPC).  

If approved, the assets will be consolidated into Champion’s financial statements, with immediate gains expected from foreign exchange earnings, wider distributor networks, and long-term advantages such as supply chain integration, portfolio expansion, and strengthened market positioning. 

Champion Breweries’ Chairman, Imo-Abasi Jacob, said: “This proposed acquisition will mark a transformative step for Champion Breweries, expanding our portfolio to include high-growth categories with strong consumer demand. Bullet’s international footprint and brand strength perfectly align with our vision for sustainable growth and market leadership.” 

Bullet has a strong presence across 14 African markets, including Nigeria, Cameroon, Ghana, Ivory Coast, the Democratic Republic of Congo, and Tanzania. In Nigeria, Bullet Black leads the ready-to-drink segment, while Bullet Blue ranks among the top six energy drink brands. 

The energy drink category has continued to perform strongly in Nigeria, defying broader consumer spending challenges, with youth-driven demand and the sector’s deep ties to nightlife and entertainment culture fueling sales growth. 

The development follows Champion’s strong financial recovery in the first half of 2025. The brewer posted a profit after tax of ₦2.29 billion, compared with a loss of ₦386.66 million in the same period of 2024.  

Revenue rose 67% year-on-year to ₦15.93 billion (US$10.37M), while gross profit increased by 111% to ₦7.89 billion (US$5.13M), supported by improved cost management and pricing power despite higher costs of sales. 

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