Guinness Nigeria Plc has announced that it will stop the importation and sale of certain Diageo international premium spirit products like Johnnie Walker, Baileys, Singleton and others imported under its 2016 sale and distribution agreement with Diageo Plc.
This disclosure is contained in a notification sent to the Nigerian Exchange Limited (NGX) by Guinness Nigeria on Thursday where it stated that the decision to no longer trade in the products will wipe off 6% of the total revenue of the Nigerian brewer.
This move is in line with Guinness Nigeria’s long-term growth strategy, and it is also in alignment with Diageo plc’s decision to establish a new, wholly owned spirits-focussed business to manage the importation and distribution of its international premium spirits portfolio in West and Central Africa, with Nigeria as one of the hubs.
Guinness Nigeria will continue to manufacture and distribute its full portfolio of non-alcoholic drinks, beer, ready-to-drink (RTDs) and locally produced spirits, including inter-alia Orijin, Captain Morgan Gold, Gordon’s Moringa, and Smirnoff X1 Choco, fully utilising its asset base following the expansion of its production capacity in recent years as a foremost total beverage alcohol player.
