Shareholders Approve ₦45 Billion Capital Injection as Champion Breweries Embarks on Bold Expansion Drive

In line with EnjoyCorp Limited’s strategic growth agenda following its 2024 majority acquisition of Champion Breweries Plc, shareholders of the company have approved an increase in authorised share capital to 5 billion shares and sanctioned a fresh capital raise of ₦45 billion by way of debt and bonds. The proceeds will fund a landmark acquisition of key intellectual property and brand assets, underscoring Champion Breweries’ ambition to accelerate growth and strengthen its market leadership.

The approval was secured at the company’s Extraordinary General Meeting (EGM), held virtually on Thursday, July 24, 2025, marking a decisive 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 Abasi 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

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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 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 deep 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.