Guinness Nigeria Plc Refutes Exits, Affirms Commitment To Nigerian Market Amid Ownership Changes

 

Guinness Nigeria Plc has emphatically denied rumors suggesting its exit from the Nigerian market following recent changes in ownership. The company, which has been operational in Nigeria since 1950, clarified its stance in response to speculations arising from the sale of majority shareholding by Diageo, a British multinational.

In a statement addressing the issue, Guinness Nigeria stated, “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.”

Last week, Guinness Nigeria finalized a deal with Singapore-based Tolaram Group to acquire a 58 percent stake, while Diageo retains ownership of the Guinness brand under a long-term licensing arrangement with Guinness Nigeria.

The company underscored its ongoing dedication to Nigeria through substantial investments in infrastructure, employment, backward integration, and community development initiatives. Guinness Nigeria emphasized that the recent partnership with Tolaram Group reinforces its commitment to the Nigerian market, ensuring continuity and growth without adverse impacts on jobs or factory operations.

“Our business will continue strongly, and no jobs or factories will be adversely affected as a result of this new partnership,” Guinness Nigeria assured stakeholders.

 

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Tags BUSINESS COMMITMENT CORPORATE STATEMENT DIAGEO GUINNESS NIGERIA PLC NIGERIAN MARKET OWNERSHIP CHANGES TOLARAM GROUP