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Guinness Nigeria has acquired Diageo Brands Nigeria Limited, which distributes the international premium spirits brands of Diageo, the British beer and drinks giant, in Nigeria.

The deal is worth about N2.35 billion.

Diageo’s international premium spirit brands, which generated net sales of about £20 million in Nigeria last year, include: Johnnie Walker, Crown Royal, JeB, Buchanan’s and Windsor whiskies, Smirnoff, Cîroc and Ketel One vodkas, Captain Morgan, Baileys, Don Julio, etc.

“The integration of the Diageo IPS brands with the Guinness Nigeria brand portfolio best fits our strategy of filling the gap in our total beverage alcohol portfolio, and allows us to compete across segments within the market,” Peter Ndegwa, the Managing Director/CEO of Guinness Nigeria, said in a statement released on the Nigerian Stock Exchange.

Guinness Nigeria, the Nigerian subsidiary of Diageo, is the second largest brewer in Nigeria after Heineken’s Nigerian Breweries.

Chibuike Oguh is Financial Nigeria's Frontier Market Analyst