Guinness acquires distribution rights to United Spirits’ brand

GUINNESS Nigeria Plc has agreed to acquire the rights to distribute McDowell’s No. 1, a mainstream spirits brand of United Spirits Limited, USL, in Nigeria.
USL is an Indian mainstream spirits business which is also a subsidiary of Diageo Plc.
In December 2015, Guinness Nigeria announced that effective 1st January 2016, it would become the exclusive distributor for the international premium spirits (IPS) brands of Diageo plc in Nigeria.
As part of the transaction, Guinness Nigeria 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 N2.35bn. The transaction was concluded by 31 December 2015 and the new distribution agreement for the IPS brands becomes effective on 1 January 2016 subject to receiving all regulatory approvals.

 

 

 

Check the Nigerian Pilot newspaper for the full story.

 

 

 

 

 

 

 

 

 

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