Champion Breweries Plc has entered into an agreement to acquire the brand assets and intellectual property rights of the Bullet range of alcoholic and energy beverages from Sun Mark International Limited.
The company, a subsidiary of enJOYcorp, announced in a filing on the Nigerian Exchange (NGX) on August 20, 2025, that the acquisition of the Bullet energy beverage portfolio aligns with its strategy to diversify into high-growth food and beverage categories. Industry analysts say this marks a significant pivot from the brewer’s traditional focus on beer and malt, signaling a deliberate attempt to capture growth in Nigeria’s booming energy and ready-to-drink segments.
Structured as an asset carve-out, the deal will see the assets transferred to a newly incorporated company in the Netherlands, with Champion holding a majority stake and Vinar N.V., a Belgian entity and majority shareholder of Sun Mark, retaining a minority interest.
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Champion noted that the transaction remains subject to regulatory approvals, including clearance from the Federal Competition and Consumer Protection Commission (FCCPC). If approved, the deal will allow Champion to report Bullet’s assets in its financials, with immediate gains expected from foreign exchange earnings, distributor reach, and longer-term benefits from supply chain integration, product diversification, and stronger market presence.
Bullet already has a strong presence across 14 African markets, including Nigeria, Cameroon, Ghana, Ivory Coast, the Democratic Republic of Congo, and Tanzania. In Nigeria, Bullet Black is the leading ready-to-drink beverage, while Bullet Blue ranks among the top six energy drink brands. Energy drinks have continued to defy Nigeria’s broader consumer slowdown, with rising youth demand and the product’s entrenched position in nightlife and entertainment culture driving sales growth.
This acquisition builds on Champion’s recent momentum, following a strong H1 2025 performance that underscored its turnaround story. The company reported a pre-tax profit of N3.4 billion, compared with a loss of N333 million in the first half of 2024.
H1 Performance
Champion Breweries Plc reported a pre-tax profit of N1.7 billion in the second quarter of 2025, a 268.95% increase from N465.4 million in the same period last year. This brought half-year pre-tax profit to N3.4 billion, compared with a loss of N333 million in the first half of 2024.
The growth was driven by stronger beer and malt sales, which rose 44.18% year-on-year to N7.4 billion in Q2, pushing total revenue for the half year to N15.9 billion, up 66.92%. Cost of sales increased to N3.5 billion from N2.9 billion in Q2 2024, but gross profit still climbed 72.90% to N3.8 billion, from N2.2 billion last year. With no foreign exchange losses during the quarter, profit after tax rose 198.17% year-on-year to N1.3 billion.
As of June 2025, total assets stood at N25.9 billion, up 21.57%, while retained earnings grew 45.13% to N5.6 billion.
In the capital markets, Champion has emerged as one of the most outstanding performers this year. As of the close of trading on August 20, 2025, its shares had gained over 418% year-to-date, and investors expect the recent acquisition to provide further momentum.
Analysts suggest that this move not only cements Champion’s financial recovery but also positions it to compete in Nigeria’s fast-growing non-alcoholic and energy drink market — one dominated by global heavyweights such as Red Bull, Monster, and Coca-Cola’s Predator brand. With Bullet’s established African footprint, Champion is set to leverage distribution synergies, deepen its penetration, and create new revenue streams in line with its diversification agenda.