Guinness Nigeria has dismissed rumors of its market exit following Diageo’s sale of its majority stake to Tolaram Group.
The company assures continued operations and growth in Nigeria, with Diageo retaining the Guinness brand license.
A statement released by the company stated,
“Contrary to rumours being peddled on various media platforms, Guinness Nigeria remains firmly committed to its operations in Nigeria and is poised for a new phase of growth and innovation.”
“Our unwavering commitment to Nigeria is evident in the substantial investments in infrastructure, employment, backward integration and our community development and social responsibility initiatives.
“The recent announcement of the partnership between Diageo and Tolaram Group further reinforces unequivocally that Guinness Nigeria remains committed to Nigeria and has no intention of exiting the dynamic Nigerian market. Our business will continue strongly, and no jobs or factories will be adversely affected as a result of this new partnership.”
“Importantly, Guinness Nigeria will retain its status as a listed company on the Nigerian Stock Exchange, maintaining its prime status in the Nigerian beverage industry. Diageo’s establishment of a wholly-owned international premium spirits company in Nigeria is also a noteworthy demonstration of its continuing dedication to sustaining its operations across West and Central Africa, with Nigeria as a pivotal operational hub,” the statement further said.
This strategic partnership aims to utilize Tolaram’s expertise without affecting jobs or listings on the Nigerian Stock Exchange, reinforcing Guinness Nigeria’s dedication to its local presence and product offerings.
