Shareholders approve N45bn capital raise for Champion Breweries

Champion Breweries Plc has received shareholder approval to increase its authorised share capital to 5 billion shares and raise ₦45 billion through a combination of debt and bond instruments, marking a significant move in the company’s bold transformation and growth agenda.

In a statement issued Friday, the company announced that the resolution was passed during its Extraordinary General Meeting (EGM) held virtually on Thursday, July 24, 2025. The move was backed by robust shareholder participation and signals a strong vote of confidence in Champion Breweries’ long-term strategic direction.

The firm, with EnjoyCorp Limited as its majority shareholder, revealed that the capital injection will be channelled toward its aggressive expansion plan, including new product innovations, operational scale-up, and broader market reach.

Strengthening Financial Position for Strategic Growth

According to the company, the approved capital raise will help strengthen the balance sheet, improve liquidity, and offer financial flexibility needed to execute its aggressive growth and innovation strategy. Shareholders also gave their backing to the acquisition of select intellectual property (IP) and brand assets, which will help expand Champion’s product portfolio and improve operational efficiency.

Leadership Speaks on Transformation Goals

Chairman of the Board, Imo Jacob, hailed the shareholder endorsement as a pivotal development in the company’s evolution:

“We are extending our promotional reach with eco-friendly units already on the road. This capital raise empowers us to fast-track growth, launch premium innovations, and deepen market presence — all while upholding our commitment to quality, sustainability, and long-term shareholder value.”

Managing Director of Champion Breweries, Inalegwu Adoga, also emphasized the company’s resilience and readiness to deliver on its next chapter of industrial expansion:

“Champion Breweries has consistently demonstrated resilience and potential, even as previous challenges required a stabilization phase. With this new era of industrial growth, we are poised to evolve beyond mere shelf presence to create meaningful market impact by positioning Champion Breweries as a driver of cultural and economic value.”

Corporate Governance and Compliance

The statement further noted that voting at the virtual EGM was conducted both electronically and via proxy, in accordance with corporate governance standards. To facilitate smooth proceedings, the Register of Members was closed from July 7 to July 10, 2025, in line with statutory requirements.

A Defining Chapter for Champion Breweries

The board expressed gratitude to shareholders for their steadfast support and reiterated its commitment to scaling operational capacity, broadening the product portfolio, and ensuring prudent capital deployment to drive sustained value and market leadership.

This latest milestone, the company stated, marks a defining chapter in its transformation journey and reflects EnjoyCorp’s commitment to building a dynamic, innovation-driven player in Nigeria’s rapidly evolving beverage landscape.