AB InBev has reiterated its commitment to long term investment in Nigeria. The Managing Director- designate of International Breweries plc. Annabelle Degroot stated this at a media briefing.
She noted that the ongoing merger of its subsidiaries in the country – International Breweries Plc., Intafact Breweries Ltd and Pabod Breweries Ltd is further demonstration of this commitment.
Degroot observed that, “following the merger, we plan to increase foreign direct investment into Nigeria, introduce some of our World Class Beers into the market, and also show the world that African beers have something unique to offer. Alongside these, we shall be consolidating and expanding our existing CSR activities in Nigeria”.
Providing an update on the merger of the three entities which commenced in June 2017, Degroot added that ‘’significant progress has been made in the merger process, with focus now on the final stages of the process which is expected to be concluded by end of 2017’’.
According to her, highlights of the completed stages in the merger process include receipt of the requisite approvals from the Securities and Exchange Commission (“SEC”) and The Nigerian Stock Exchange (“The NSE”), approval of resolutions by shareholders of the three companies during separate court ordered meetings authorizing the merger, and the subsequent sanction of the merger by the Federal High Court. Major next steps in the merger process include the listing of the new enlarged company’s shares on the Nigerian Stock Exchange.
Post the merger; the enlarged entity will be one of the biggest beverage manufacturing and distribution companies in Nigeria, based on installed production capacity.
International Breweries Plc. commenced production with the launch of its flagship product, Trophy Lager in December 1978. The company now produces Beta Malt as well as Castle Milk Stout, Hero Lager, 1960 Rootz and Grand Malt, produced and sold under co-packaging and franchise agreements.
Intafact Beverages Limited was first incorporated in February 2007. The company’s principal activities include the manufacturing, distribution and sale of a variety of beverages such as Hero Lager, as well as Eagle Lager, Trophy Lager, Castle Milk Stout, Grand Malt, Beta Malt, and 1960 Rootz.
Pabod Breweries Limited was incorporated in 1978 and produces a variety of beverages including its flagship product Grand Malt, as well as Castle Milk Stout, Eagle Lager, Hero Lager, Trophy Lager, Beta Malt, and 1960 Rootz which are produced and sold under co-packaging and franchise agreements.