Nigeria: AB InBev to spend $250 mln to build new brewery in Nigeria
AB InBev has announced it will spend $250 mln to build a new brewery in south-west Nigeria as it launches Budweiser into the country, FoodBev.com reported on November 23.
The brewer said that the impending merger of its three subsidiaries in Nigeria – International Breweries, Pabod Breweries and Intafact Breweries – reflects the company’s commitment to the country.
The merger began in June and the final entity will be known as International Breweries, according to the company’s managing director Annabelle Degroot.
AB InBev acquired SABMiller Nigeria, the owners of the three merging companies, last year.
“We are investing in a fourth brewery, a large brewery outside of Lagos, in the Sagamu area that will come online next year and it’s our largest brewery in Africa outside of South Africa,” Degroot said.
“The exciting news is that we will be introducing some new brands, so we are very proud of our Hero brand and our Trophy brand, and those brands will grow because we like to focus on local, great brands.”
She added: “The merger is on track, we have received all the necessary approvals now through the courts and we intend to list the shares of the new, enlarged company on the stock exchange around mid-December.
“To begin with, the large entity will be known as International Breweries, that’s the company we have currently listed on the stock exchange.
“We will list as International Breweries, it has been agreed by the board of the new company that we will choose a new name that will reflect the combination of the three and that name will be changed subsequently in the new year, in 2018.”
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