‘Guinness Nigeria Remains Rooted In Nigeria, No Plans To Exit’

Guinness Nigeria Plc has maintained that it has no plans to leave Nigeria, following the exit of its former parent owner, Diageo, aftermath of its sales of 58.02 per cent shareholding to Singapore-based Tolaram Group, as its new owners. In particular, the company in a statement to TrackNews Media , which was signed by GN management, stated that it remained firmly committed to its operations in the country and poised for a new phase of growth and innovation.

The management said: “Guinness Nigeria Plc wishes to correct the recent speculations and false/malicious misinformation alleging a plan to exit from the Nigerian market. Contrary to rumors being peddled on various media platforms, Guinness Nigeria remains firmly committed to its operations in Nigeria and is poised for a new phase of growth and innovation. “Since commencing operations in April 1950, Guinness Nigeria boasts of a proud and eventful 74-year legacy intricately woven into Nigeria’s cultural and economic fabric.

“Our unwavering commitment to Nigeria is evident in the substantial investments in infrastructure, employment, backward integration and our community development and social responsibility initiatives. “The recent announcement of the partnership between Diageo and Tolaram Group further reinforces unequivocally that Guinness Nigeria remains committed to Nigeria and has no intention of exiting the dynamic Nigerian market. “Our business will continue strongly, and no jobs or factories will be adversely affected as a result of this new partnership.

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“Under the partnership announced, Tolaram Group will acquire a 58.02 per cent majority stake in Guinness Nigeria, enabling us to harness and leverage Tolaram Group’s extensive expertise in manufacturing and distribution. The statement added, “Importantly, Guinness Nigeria will retain its status as a listed company on the Nigerian Stock Exchange, maintaining its prime status in the Nigerian beverage industry.

‘”Diageo’s establishment of a wholly-owned international premium spirits company in Nigeria is also a noteworthy demonstration of its continuing dedication to sustaining its operations across West and Central Africa, with Nigeria as a pivotal operational hub.

“Under a long-term license and royalty arrangement, Guinness Nigeria will continue to produce and sell all our iconic brands including Guinness FES and Smooth, Smirnoff Ice, Orijin Bitters, and Malta Guinness as well as Diageo MSS brands like Smirnoff X1, Gordon’s Moringa and Captain Morgan Gold Rum, ensuring our esteemed consumers nationwide continue to enjoy their favorite beverages.