Shareholders of Champion Breweries Plc have approved an increase in the firm’s authorised share capital to 5 billion shares and sanctioned a fresh capital raise of N45bn by way of debt and bonds.
A statement from the company on Friday stated that the firm, which has EnjoyCorp Limited as a majority shareholder, would use the capital injection for its bold expansion drive.
It stated that the approval was secured at the company’s Extraordinary General Meeting held virtually on Thursday, marking a vote of confidence in Champion Breweries’ transformation agenda and long-term growth trajectory.
Under the resolutions passed, the capital raise will bolster the company’s balance sheet, enhance liquidity, and provide the financial flexibility required to execute an aggressive expansion and innovation programme. Shareholders also endorsed the acquisition of select intellectual property and brand assets to broaden Champion Breweries’ portfolio, boost operational efficiency, and cement its position in Nigeria’s competitive beverage market.
Chairman of the Board, Imo Jacob, described the approval as a pivotal step forward. “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,” he noted
Champion Breweries’ Managing Director, Inalegwu Adoga, highlighted the company’s resilience and readiness for its next phase of growth, “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.” he added.
The statement stated that the virtual EGM recorded robust shareholder participation, with voting conducted electronically and via proxy. In compliance with statutory requirements, the Register of Members was closed from July 7 to July 10, 2025, to facilitate seamless preparations.
The board expressed appreciation to shareholders for their unwavering support and reaffirmed its commitment to expanding operational capacity, broadening its product portfolio, and deploying capital prudently to deliver consistent returns while sustaining market leadership.
This milestone marks a defining chapter in Champion Breweries’ transformation journey and underscores EnjoyCorp’s commitment to positioning the company to capture emerging opportunities in Nigeria’s fast-evolving beverage sector.
