Tag Archives: AB InBev Nigeria

Budweiser debuts in Nigeria amid splendour

Budweiser, a beer brand from the stables of International Breweries Plc, the local unit of Belgian brewer, AB InBev finally made its entry into the Nigerian market amid splendour and pomp.

The ceremony which took place at the famous Landmark Towers in Victoria Island, Lagos on Saturday, 14th April 2018 was well attended by personalities from the entertainment industry and guests.

International Breweries sees higher revenue and earnings growth at year end

International Breweries Plc (IBPlc) reported a 12% growth in revenue for the nine months to the end of December 2017. Sales grew to ₦36.5bn from ₦32.7bn in the previous year.

Cost of sales rose 30% in the period to ₦22.86bn from ₦17.5bn, impacted by a 33% increase in net finance cost to ₦6.9bn. Administrative costs also weighed on the firm’s earnings, rising 117% to ₦4.5bn from ₦2bn in the preceding year.

AB InBev commits to affordable beer brands for Nigerian consumers

Beer giant AB InBev has said it will serve Nigerians with various beer brands at affordable prices.

The Marketing Manager of AB InBev, Mr. Arne Bruse disclosed this at a conference held at the Radisson Blu Hotel in Lagos. He said that consumers of beer will be able to buy some of the company’s beer brands at about ₦100 to ₦150.

New $250m Sagamu brewery to commence operation by mid-year – AB InBev

Belgian brewer AB InBev has said it is nearing completion of its new $250 million Sagamu brewery and expects it to go into operation by mid-year.

The announcement was made by Ricardo Tadeu, AB InBev’s head of operation for Africa on Thursday in South Africa.

“For the long term, in five to 10 years, Africa will be an important growth driver for the global company,” he said.

AB InBev ready to take on NB, Guinness

International Breweries Plc (“IBPLC”), the Nigerian unit of Belgian brewer, Anheuser-Busch InBev said, it was battle-ready to take on its competitors in the Nigerian market – Nigerian Breweries Plc and Guinness Nigeria Plc. IBPlc on Thursday finalized a three-way merger with its sister companies, Intafact Beverages Limited and Pabod Breweries Limited.

International Breweries completes three-way merger; lists 5.3bn additional shares on Stock Exchange

International Breweries Plc, on Thursday notified the Nigerian Stock Exchange (NSE) that it has listed 5.3bn additional shares on the Exchange, capping what has been a grueling six months for the firm to merge with its sister companies, Intafact Beverages Limited and Pabod Breweries Limited.

The brewing company which is an indirect subsidiary of Anheuser-Busch InBev and the only listed company on the NSE out of the three merging entities notified dealing members of the Nigerian Stock Exchange of the additional share listing.

Nigerian Breweries mulls major changes to its Board as beer war looms

Nigerian Breweries Plc has scheduled a meeting for Friday, 8th December to consider making major changes to the composition of its Board of Directors.

In a letter sent to the Nigerian Stock Exchange (NSE) on Friday, the company said that “One of the items on the agenda is a proposal for changes in the composition of the Board of Directors (“Board”) of the company.”

AB InBev restates commitment to Nigeria as it confirms construction of a new brewery

Global beer behemoth Anheuser-Busch InBev has said it is committed to a long-term investment in Nigeria. This was as the firm announced in a press conference in Lagos on Wednesday, the construction of a new brewery in the country, located in Sagamu, Ogun State, at a cost of over $250 million. The company noted that the new brewery which is expected to be completed in 2018 would be its second largest in Africa and a testament to its long-term view of the country.

International Breweries narrows loss in half-year

Ilesha-based International Breweries Plc said its losses in the first-half of the year (Apr – Sept) narrowed to N52m, from ₦1.9bn in the previous year.

The brewer blamed the loss on unrealized foreign exchange loss which skyrocketed 894% in the six months to ₦983m ($2.7 million). The maker of Trophy lager said it had a particularly difficult second quarter as much of the FX loss came from this period, rising 4,238% to ₦945m ($2.6 million). The net loss in Q2 was even far much greater, at ₦1.2bn, from ₦216m.

International Breweries merger moves a step closer to completion, gets shareholders’ approval

International Breweries Plc (“IBPlc”), said on Thursday that its shareholders and the shareholders of Intafact Beverages Limited and Pabod Breweries Limited (the “merging entities”) have approved the merger of all three companies.

With approval received from the shareholders of the merging entities, the company said it will will seek final regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock Exchange (“NSE”), as well as the sanction by the Federal High Court (“FHC”), after which, the merger becomes effective.