Why we ventured into the wine and spirits market -NB Plc

The management of Nigerian Breweries (NB) Plc says the company’s decision to foray into the wine and spirits market, through the acquisition of Distell Wine and Spirits, is aimed at unlocking new opportunities in the country’s alcoholic sector explore and prepare the company for the future. .

At the company’s pre-annual general meeting held recently in Lagos, the Company Secretary and Legal Director, NB Plc, Uaboi Agbebaku stated that the recent acquisition of the 80 percent stake in Distell, by NB PLC, demonstrates her strong belief in the country’s business environment.

He described the company’s decision to close two of its factories as part of its strategies to effectively weather the current economic storm in the country and position it for the future.

Agbebaku, however, assured the affected workforce and the communities where the factories are located of the company’s continued support.

“While we are temporarily closing these factories, I can assure the communities where these factories are located that they will continue to have our support. Plans are also underway to redistribute workers in those factories to our other factories, and to properly eliminate those who do not fit into the plans,” he stated.

Speaking on the company’s Corporate Social Responsibility (CSR), the Director of Corporate Affairs, Ms. Sade Morgan, stated that over the decades the company had built a culture of giving back to the work environment.

One of these initiatives, she said, is the annual Maltina Teacher of The Year (MToY) Award, aimed at celebrating excellence among Nigerian secondary school teachers, to which the company has so far contributed a total of N1.5 billion issued since its inception. years ago.

The company’s Managing Director, Mr. Hans Essaadi, stated that despite the country’s difficult economic terrain, the company’s confidence in the environment remains unwavering.

“We have been around for decades and we continue to have confidence in this economy; hence our continued investments in Nigeria,” he added.

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