Champion Breweries Plc, a subsidiary of enJOYcorp and member of the EverCorp family, has signed an agreement to acquire the Bullet brand, an alcoholic and energy beverage, in a deal aimed at boosting foreign exchange earnings and strengthening its financial position.
The company announced the move on Wednesday, saying the transaction, which is still subject to regulatory approvals, would give Champion Breweries full ownership of Bullet’s brand assets and intellectual property. The acquisition is from Sun Mark International Limited, owners of the Bullet brand.
According to details released, the brands will be held under a newly created entity in the Netherlands. Champion Breweries will take the majority stake, while Vinar N.V., a Belgian company and majority shareholder of Sun Mark, will retain a minority stake.
Speaking on the deal, the Chairman of Champion Breweries, Imo-Abasi Jacob, described the move as a turning point for the company. He said the acquisition would place Champion in a stronger position to expand into new product categories that enjoy rising demand across global markets.
“This proposed acquisition will mark a transformative step for Champion Breweries, expanding our portfolio to include high-growth categories with strong consumer demand. Bullet’s international footprint and brand strength perfectly align with our vision for sustainable growth and market leadership,” Jacob said.
In the same vein, the Managing Director of enJOYcorp, David Butler, said the Bullet brand represents a unique opportunity for Champion to strengthen its role as a global player. He stressed that the beverage already enjoys a presence in key markets and still has significant room for expansion.
“We see potential in Bullet as a truly global African brand. With its position in key markets and significant headroom for expansion, we will be poised to accelerate growth through new product launches, market entries, and strategic synergies across our operations, working with existing partners and strengthening the distribution reach of all products in our range,” Butler stated.
Industry experts say the deal underlines a growing trend among Nigerian breweries and beverage companies to diversify into products that can earn foreign exchange and strengthen their position in the global market. With foreign exchange scarcity still a major challenge for many Nigerian firms, companies are turning to exports and international partnerships to stabilise their earnings.
The acquisition will also introduce several operational synergies for Champion Breweries and enJOYcorp. According to the statement, the companies plan to share distribution routes, consolidate warehousing, integrate stock management, and centralise resource allocation. These measures are expected to improve efficiency, reduce costs, and allow the businesses to compete more strongly both locally and internationally.
Already, new Bullet products have been approved for release in 2026. The rollout will be accompanied by targeted entries into additional African countries and selected global markets. This expansion is expected to strengthen the brand’s visibility and position Bullet as one of Africa’s leading beverage names.
Champion Breweries has been on a recovery path in recent years. The company recently reported a profit of N2.29 billion for the first half of 2025, bouncing back from earlier losses. The acquisition of Bullet is now seen as a major step in cementing that recovery and pushing the company into a new growth phase.
Analysts also believe the deal could improve Nigeria’s image in global beverage markets, showcasing the ability of local firms to compete with international players and develop brands that resonate beyond the country’s borders.
With the regulatory approval process now underway, attention will turn to how soon Champion Breweries can finalise the acquisition and begin integrating Bullet into its operations. If successful, the company will have taken a significant step toward diversifying its portfolio and boosting foreign exchange inflows, while positioning itself as a leading African beverage company with global ambitions.
