Guinness Refutes Speculations Of Exiting Nigeria
Guinness Nigeria Plc has dismissed suggestions that it is withdrawing from the Nigerian market after Diageo, a British multinational alcoholic beverage company, sold its majority stake.
In a statement, the company, which began operations in Nigeria in 1950, stated that it “wishes to correct the recent speculations and false/malicious misinformation alleging a plan to exit from the Nigerian market.”
Last week, Guinness Nigeria finalized an agreement with Singapore’s Tolaram Group to purchase a 58 percent stake, while Diageo will maintain ownership of the Guinness brand, which will be licensed to Guinness Nigeria in the long term.
“Despite rumours circulating on various media platforms, Guinness Nigeria reaffirms its steadfast commitment to its operations in Nigeria and is prepared for a new phase of expansion 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.”
