Diageo completes shareholding deal with Tolaram

Diageo announced that it has completed the sale of its shareholding in Guinness Nigeria PLC to Tolaram. The sale was announced on 11th June 2024.

Guinness Nigeria PLC will continue the production and nationwide distribution of Guinness and its other locally manufactured brands in Nigeria under a licence and royalty agreement reflecting Diageo’s efficient and flexible beer operating model.

This transaction is in line with Diageo’s growth ambition to deliver the company’s next phase of sustainable growth.

Under the deal, Diageo will retain ownership of the Guinness brand but license it to Guinness Nigeria for the long-term. Guinness Nigeria will also continue to have manufacturing and distribution rights for the other Diageo brands that it currently manufactures.

In Tolaram, it has a partner with five decades of presence in the African consumer packaged goods industry.