Tolaram Aquires 58.02% Diageo Shareholding in Guinness Nigeria

According to the press release from Guinness Nigeria Plc signed by the company Secretary Mrs Adidemi Ademola, Tolaram signed an agreement to acquire 58.02% shareholding in Guinness Nigeria. The shares originally belonged to Diageo and the company agreement on the transfer of her shares marked the official exit from Guinness Nigeria Plc in the aspect of ownership rating.

The 11th June 2024 agreement signed on the shareholding stake acquired by Tolaram avails the company the opportunity to earn royalty, dividends, and necessary entitlements in line with the company entitlement in Guinness Nigeria Plc after Diageo’s ownership stake came to an end though pending when the transaction is completed in 2025 fiscal year.

See also  Only One Thing Makes Business Fail - Kalu Aja

In the acquisition, It was gathered that Diageo will retain ownership of the Guinness brand which will be licensed to Guinness Nigeria for the long term to enable the company attain growth under the management of Tolaram as the new majority shareholder.

Tolaram has been in Africa since five decades that is fifty years now and possess capacity as a leading consumer packaged goods company in Africa continent.

It was also gathered that Diageo will be in partnership with Tolaram to ensure an organized marketing strategy and drive the brand growth of Guinness Nigeria for long-term sustainability.

See also  Why Enugu State Can Print Money for You

The marketing and brand drive presence of Diageo showed that the company may have transferred shareholding stake but still lives in Guinness Nigeria to ensure growth, innovation, and marketing capacities that will continue to bring progress for the company.

Please share

Leave a Reply

Your email address will not be published. Required fields are marked *