Guinness Nigeria Plc has extended the timeline for change in the distribution model for imported Diageo International Premium Spirit (IPS) brands to 2025.
This was contained in a statement made available to the Nigerian Exchange Limited seen by Nairametrics.
According to the brewer, following preliminary steps taken by Guinness Nigeria PLC and Diageo since the initial announcement, it has become apparent that the transition to the new distribution model is taking longer than anticipated.
It noted that as a result, the completion of the implementation of the separation of the IPS brands from Guinness Nigeria’s business, initially scheduled for April 2024, will now become effective during the course of Guinness Nigeria Plc’s Financial Year 2025.
The company said that during this transition period, Guinness Nigeria Plc will continue to import and distribute Diageo international premium spirits products, including Johnnie Walker, Singleton, and Baileys, among others, under its existing 2016 Sale & Distribution Agreement with Diageo plc.
Adebayo Alli, Managing Director/CEO, of Guinness Nigeria Plc., said the strategic transition will empower Guinness Nigeria to sharpen its focus on our core operations, which have consistently demonstrated resilience and growth despite external challenges.
Nairametrics recently reported that Guinness Nigeria Plc announced that it will stop the importation and sale of certain Diageo international premium spirits products like Johnnie Walker, Baileys, Singleton, and others imported under its 2016 sale and distribution agreement with Diageo Plc.