Suntory Beverage & Food Nigeria Limited announced on Tuesday its plans to expand its presence in the Nigerian food and beverage market as the new owners of the beverage brands, Lucozade and Ribena.

The announcement came after the completion of the sale of the drinks, bottling and distribution business by GSK Consumer Nigeria Plc to Japanese global beverage company, Suntory Beverage & Food.

Speaking at the official announcement of the acquisition in Lagos on Tuesday, Managing Director, Suntory Beverage & Food Nigeria Limited, Chinedum Okereke, described the investment in Nigeria as a development that will yield many positive results.

“This is a clear demonstration of Suntory’s confidence in the Nigerian economy. The company relies on the strong connection between the Nigerian consumers and its Lucozade and Ribena brands and is especially confident of the nation’s immense potential for economic growth and the impressive productivity level of its people.”

L-R: Rajiv Das, Deputy Managing Director; Seyi Adesomi, Plant Director, Agbara Plant; Chinedum Okereke, Managing Director and Rosemary Akpo, Marketing Director all of Suntory Beverage & Food Nigeria Limited, at a press conference to announce the entrance of Suntory Beverage & Food Nigeria Limited into the Nigerian Market in Lagos

“As a company, our desire is to consistently provide some of the country’s best quality drinks through well researched market insight, expertise and dedication and to also deliver high quality innovative products.”

“Innovation, research and development will play a big part in the foundation of our operations in Nigeria” he also said. With Suntory’s global credentials and successes, Suntory Beverage & Food Nigeria will gain a solid platform into the Nigerian soft drinks industry for its iconic Lucozade and Ribena brands.”

According to the MD, the two brands would be rebranded to reflect the identity of the new owners.