Shareholders of Champion Breweries Plc have approved a significant capital restructuring, including an increase in the company’s authorised share capital to 5 billion shares and a fresh capital raise of ₦45 billion through debt instruments and bonds.
The approval, secured during an Extraordinary General Meeting held virtually on Thursday, signals strong investor confidence in the company’s long-term growth strategy and transformation agenda.
According to a statement released by the company on Friday, the proposed capital injection will fund Champion Breweries’ bold expansion drive, support innovation, and strengthen its presence in Nigeria’s competitive beverage market.
Champion Breweries, which is majority-owned by EnjoyCorp Limited, also secured shareholder backing for the acquisition of select intellectual property and brand assets. These acquisitions are expected to broaden its product portfolio, boost operational efficiency, and further entrench its market leadership.
Chairman of the Board, Imo Jacob, described the development as a “pivotal step forward,” adding that the capital raise will enable the company to fast-track growth, introduce premium product innovations, and deepen its market footprint.
“We are extending our promotional reach with eco-friendly units already on the road. This capital raise empowers us to accelerate our ambition while staying committed to quality, sustainability, and shareholder value,” Jacob said.
Managing Director and CEO, Inalegwu Adoga, noted that the company is now poised for a new phase of industrial growth after a period of stabilisation.
“Champion Breweries has shown resilience and strong potential. With this new investment, we aim to move beyond shelf presence to make meaningful market impact and become a driver of cultural and economic value,” Adoga stated.
The virtual EGM recorded strong shareholder participation, with voting conducted electronically and via proxy. In line with statutory requirements, the Register of Members was closed from July 7 to July 10, 2025, to facilitate preparations.
The board expressed gratitude to shareholders for their unwavering support and reaffirmed its commitment to responsible capital deployment, sustained innovation, and consistent returns.
This move marks a new chapter in Champion Breweries’ evolution, reinforcing EnjoyCorp’s ambition to position the company as a key player in Nigeria’s fast-evolving beverage sector.
