Business
BREAKING: Guinness to stop sale of Johnnie Walker, Baileys, 6% of revenue to be affected
Guinness Nigeria Plc has announced that it will stop the importation and sale of certain Diageo international premium spirit products like Johnnie Walker, Baileys, Singleton and others imported under its 2016 sale and distribution agreement with Diageo Plc.
This disclosure is contained in a notification sent to the Nigerian Exchange Limited (NGX) by Guinness Nigeria on Thursday where it stated that the decision to no longer trade in the products will wipe off 6% of the total revenue of the Nigerian brewer.
Guinness in its notification said that the move is in line with its long-term growth strategy, and is also in alignment with Diageo Plc’s decision to establish a new, wholly owned spirits-focused business to manage the importation and distribution of its international spirits portfolio in Nigeria as well as West and Central Africa.
It also stated that it will continue to manufacture and distribute its full portfolio of non-alcoholic drinks, beer and locally produced spirits, including Orijin, Captain Morgan Gold, Gordon’s Moringa, and Smirnoff X1 Choco, fully utilising its asset base.
More to follow…
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