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LequteMan
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Guinness Nigeria has announced that it has has secured exclusive distribution rights to the international premium spirits brands of Diageo plc in Nigeria, Reuters reports.
Diageo brands in Nigeria include the Johnny Walker brands Blue, Black, Red; Baileys, Smirnoff Vodka, Gordons, Tanqueray and so on.
Guinness added that it will also take over various assets including the current inventory of Diageo Brands Nigeria Limited, the wholly-owned Diageo business which currently distributes and markets the IPS brands in Nigeria. The consideration for the transaction is approximately N2.35b.
Guinness Nigeria will also take over various assets including current inventory of Diageo Brands Nigeria Limited.
The transaction is expected to be concluded by 31 December 2015 and the new distribution agreement for the IPS brands will become effective on 1 January 2016 subject to receiving all regulatory approvals.
Diageo holds majority stake in Guinness Nigeria Plc and is planning to increase its share to 70%.
Diageo brands in Nigeria include the Johnny Walker brands Blue, Black, Red; Baileys, Smirnoff Vodka, Gordons, Tanqueray and so on.
Guinness added that it will also take over various assets including the current inventory of Diageo Brands Nigeria Limited, the wholly-owned Diageo business which currently distributes and markets the IPS brands in Nigeria. The consideration for the transaction is approximately N2.35b.
Guinness Nigeria will also take over various assets including current inventory of Diageo Brands Nigeria Limited.
The transaction is expected to be concluded by 31 December 2015 and the new distribution agreement for the IPS brands will become effective on 1 January 2016 subject to receiving all regulatory approvals.
Diageo holds majority stake in Guinness Nigeria Plc and is planning to increase its share to 70%.
