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Ribena, Lucozade energy drinks get new owner

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Ribena, Lucozade energy drinks get new owner

Suntory Beverage & Food Limited (SBF) makers of Ribena and Lucozade, has agreed to sell its Nigerian subsidiary, Suntory Beverage & Food Nigeria (SBFN), to Africa FMCG Distribution Ltd (AFDL) for $14 million.

The deal is expected to be completed within the next two months as they wait for merger clearance from relevant regulatory authorities in Nigeria.

The new owner, AFDL is a subsidiary of Chanrai Summit Group, a multi-faceted company distributing products and is expected to expand the business by leveraging on its supply chain management infrastructure.

Kazuhiro Saito, CEO of SBF said, “As part of our regular strategic portfolio review and considering the broad options in Nigeria to accelerate the growth of our brands, we have decided that it is best to launch a new operating model in Nigeria, leveraging the extensive distribution network, and the expertise in the local market that AFDL possesses.”

Anjan Patole, Managing Director of SBFN, also expressed delight about the transaction pointing out the new owner would expand the business.

Read also: GSK Nigeria sells Lucozade, Ribena business in N22.6b deal

He said, “The sale of our beverage operations in Nigeria signifies a fantastic opportunity to leverage on Chanrai’s Group expertise to expand the business and talents of our people beyond our current potential. Their extensive global systems, agility to changing market needs with a focus on African consumers are all qualities that aligned with that of our business here.”

Sherring Thekekkara, the CEO of AFDL said, “Leveraging experience, streamlining supply chain, enhancing manufacturing, consistent innovation and improving seamless route to market etc will ensure that the Nigerian consumer continues to enjoy their favourite brands “Lucozade” and “Ribena” even more passionately.”

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