A South African businessman has acquired a 100% stake in Nigeria’s biggest beverage can manufacturer, GZ Industries. The deal was announced recently by Johannesburg-based Global Beer Company, which is controlled by Jonathan Oppenheimer, the son of South African billionaire Nicky Oppenheimer.
The acquisition is a major boost for GZ Industries, which has been struggling in recent years due to economic challenges in Nigeria. The company has a production capacity of 300 million cans per year and supplies major Nigerian beverage companies such as Nigerian Breweries and Guinness Nigeria.
Oppenheimer said that he is confident in the future of GZ Industries and plans to invest in the company to expand its production capacity and improve its efficiency. He also said that he plans to explore opportunities to export GZ Industries’ cans to other countries in West Africa.
The acquisition is a positive development for the Nigerian economy, as it will create jobs and boost investment. It is also a sign of confidence in the future of the Nigerian beverage industry.
What you should know:
- The deal was reportedly worth around $50 million.
- Oppenheimer is the chairman of Global Beer Company, which is a leading investor in African beer companies.
- GZ Industries is the only can manufacturer in Nigeria.
- The company has a workforce of over 500 people.