Eko Hot Blog reports that Guinness Nigeria Plc has revealed its intention to cease importing and selling Diageo products such as Johnnie Walker and Baileys by April 2024, a move that will account for six percent of the company’s overall revenue, according to a statement released on Thursday to the Nigerian Exchange Limited (NGX).
The decision comes as Diageo Plc plans to establish a new, wholly owned spirits-focused venture in Nigerian and African markets.
“Guinness Nigeria will be better positioned to focus on its core business and its strength in the manufacturing, marketing, and distribution of non-alcoholic drinks, beer, RTDs, and its locally produced spirits,” the statement explains.
Nonetheless, this shift may have an impact on the company’s revenue, given that the sale of Johnnie Walker, Baileys, and Singleton contributed N14 billion to Guinness Nigeria’s total revenue for the financial year ending June 30, 2023.
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