Diageo has sold its majority interest in Seychelles Breweries to Phoenix drinks in Mauritius.
The owner of Guinness had a 54.4% interest in the listed Seychelles Breweries, who brings a series of drink products on the market, including Seybrew beer.
Diageo’s sale of his interest in Seychelles Breweries is the newest in a series of operations in Africa.
Financial conditions have not been announced. Seychelles Breweries will still be mentioned on the Seychelles Stock Exchange after the deal is closed.
According to the conditions of the deal with Phoenix drinks, Demono IPS will distribute in-market, which will be license to Seychelles Breweries under a new “long-term” agreement.
In a short explanation, Dayalan Nayager, the activities of the President Diageo in Africa and Chief Commercial Officer, said: “I am delighted to expand our successful collaboration with Phoenix Beverages, a long -term partner in the Indian Ocean region, to deliver the value for the brewers of Seychelles and a long -term brewery of brewers”
In the year until 30 June, Seychelles -Brouwerijen generated the net turnover of SRS568.2M ($ 39 million), versus SRS578.3m 12 months earlier.
The business profit of the company fell by 23% to SRS137.8 million. The win for the year was on SRS91M, against SRS122.2M the previous year.
Phoenix -Dranken, which produces Guinness and Smirnoff -IJs for Diageo in Mauritius, is a subsidiary of the local conglomerate IBL group.
Arnaud Lagesse, the chairman of Phoenix Beverages, said that the acquisition of Diageo’s interest in Seychelles Breweries, “enables us to accelerate our ambitions in a way that could only match organic growth”.
He added: “Strengthening our presence in the Seychelles gives us the momentum to create lasting value and to deepen our leadership in the landscape of the Indian Ocean.”
In January, Diageo announced a deal to sell its interest in the listed Guinness Ghana Breweries to the French drink group Castel for $ 81 million.
In 2022, Diaageo sold its Guinness Brewing operation in Cameroon to Castel. A year ago, the owner of Tanqueray Gin loaded his shareholding in the listed Guinness Nigeria to the Singapore -based consumer group Tolaram.
“Demono offloads seychelles Breweries Stake” was originally made and published by Just Drinks, a brand global data.
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