Tolaram Group, a diversified holding company with interests in consumer goods, fintech, infrastructure, and industrials, has officially added Guinness Nigeria to its expanding portfolio. This follows the June 2024 announcement of a proposed transaction in which Diageo will transfer its 58.02% shareholding in Guinness Nigeria to Tolaram, making Tolaram the new majority shareholder. This move includes establishing long-term license and royalty agreements to ensure the ongoing production, marketing, and sale of the Guinness brand, along with Diageo’s ready-to-drink and mainstream spirits brands in Nigeria.
Tolaram views this acquisition as a pivotal milestone in its growth journey, committing to preserve the rich heritage and quality associated with Guinness while exploring new opportunities for sustainable expansion. The successful completion of this transaction signifies a new era for Guinness Nigeria, which has been an integral part of Nigerian culture for over seventy years. Known for its iconic brands like Guinness, Malta Guinness, and Orijin, Guinness Nigeria is poised to leverage Tolaram’s extensive experience to enhance its historic presence in the country.
Board Chair Dr. Omobola Johnson expressed excitement about the future, emphasizing the opportunities that Tolaram’s experience brings to Guinness Nigeria. She also acknowledged the contributions of outgoing directors, thanking them for their efforts in ensuring a smooth transition during the share transfer process.
