Champion Breweries Plc, a subsidiary of enJOYcorp, in line with its strategy to expand into food and beverage categories, 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 revealed this in a filing on the Nigerian Exchange (NGX) earlier today, stating that the acquisition of the Bullet energy beverage portfolio aligns with its strategy to diversify into high-growth food and beverage categories.
The transaction is structured as an asset carve-out and 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.
Champion noted that the transaction remains subject to regulatory approvals, including clearance from the Federal Competition and Consumer Protection Commission (FCCPC).
Once the acquisition is completed, Champion Breweries Plc will include Bullet’s assets in its financial reports, capturing immediate gains such as foreign exchange earnings and distributor reach, and long-term benefits from supply chain integration, product expansion, and stronger market presence.
Bullet already has a strong presence across 14 African markets, including Nigeria, Cameroon, Ghana, the 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.
This development follows a strong H1 2025 performance by Champion, which reported a pre-tax profit of N3.4 billion, compared with N333 million in the first half of 2024.