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Court sets date for shareholder vote on Seven-Up acquisition bid

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Seven-Up Bottling Company Plc announced on Friday that it would hold a court appointed shareholder’s meeting in January to approve a bid by majority shareholder Affelka S.A. to acquire the remaining shares of minority shareholders it does not already own in a deal worth N19.33bn ($60m). Affelka S.A., which is the investment arm of the El-Khalil family, said it would not vote at the 11th January meeting to decide on the buyout, Seven-Up said in a note to shareholders. Seven-Up announced on Thursday 30th November that it had received an offer from Affelka to acquire the remaining shares of minority shareholders amid losses over the last few years. Sunil Sawney, Vice Chairman of Seven-Up said last Thursday that the aim of the acquisition is to restructure the company, adding that delisting th

Scottish firm Edrington introduces its premium spirits brands to Nigeria

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Edrington, a Scottish-based spirits firm with a wide range of internationally known premium brands has partnered Premium Spirits Nigeria (“PSN”) to enter the Nigerian market. Premium Spirits Nigeria is a business division of the Nigerian Bottling Company Limited (NBC) set up to grow and manage its premium spirits consumer category. According to the brand handlers, they said that Edrington and PS Nigeria partnership would feature promotion of a wide-range of premium Scotch whiskies such as Macallan, Famous Grouse and Highland Park. Speaking during the media launch which took place in Lagos recently, the Director, Premium Spirits Nigeria, Idowu Adedoyin, explained that with this partnership, PS Nigeria would further drive value creation for this niche market. “Under this partnership, there w

Coca-Cola HBC picks long-serving veteran, Bogdanovic as new CEO

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Coca-Cola HBC, on Thursday announced the appointment of Zoran Bogdanovic as its new chief executive officer (CEO), succeeding Dimitris Lois who passed away in October after a brief illness. According to the company, Mr. Bogdanovic will also be nominated as an executive director of the firm at the company’s next General Meeting of Shareholders. Bogdanovic is currently a Region Director, responsible for operations in 12 countries and has been a member of the Coca-Cola HBC’s Operating Committee since 2013. He joined the group in 1996 and has held a number of senior leadership positions including as General Manager of the company’s operations in Croatia, Switzerland and Greece. “Following a thorough process and benchmarking exercise, the board is delighted to announce Zoran’s appointment as ch

Nigerian Breweries raises the stakes; launches ‘Stella Lager’ for the premium beer market

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Nigerian Breweries Plc, on Wednesday unveiled a new premium Lager beer, “Stella”, to give new energy to the consumer beer market. The launch which took place at the Grand Ballroom of Eko Hotels & Suites, Victoria Island, Lagos, was graced by a room full of key stakeholders and consumers including representatives from the brewer itself, including its Marketing Director, Franco Maria Maggi; Sales Director, Hubert Eze; Portfolio Manager, Premium Lager Brands, Tokunbo Adodo; and Brand Manager Global Brands, Oreoluwa Kolawole, amongst others. Speaking at the introduction of the new brand, Maggi said, that the company is passionate about delivering quality and consistent value to its customers. “Nigerian Breweries is passionate about delivering quality and consistent value to our consumers. We a