Can Tolaram Group refill Guinness Nigeria's bottle?

After 62 years of running the show, Diageo waves the white flag and hands their controlling stake
(58.02% to be exact) of Guinness Nigeria to Tolaram Group

Guinness Nigeria hasn’t exactly been the picture of financial health lately. The company has been drowning in red ink, with net losses that would make even the most optimistic accountant whimper.

We’re talking net losses of N18.2 billion in 2023 and a whopping N61.7 billion so far in 2024. It’s clear why the company decided it was time to find Guinness a new bartender.

Major beer companies market shares

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So, why is Diageo ditching Guinness Nigeria and handing the reins to Tolaram? Well, while Diageo will still hold onto the Guinness brand, Tolaram will provide the financial shot in the arm of Guinness to get its supply chain singing and put some vitality back into their bank account.

Tolaram is known for not sharing (just look at its other businesses), and has set the stage to delist Guinness Nigeria from NGX and make it a private party.

Tolaram is new in the beer industry but no rookies when it comes to food and beverages. With some learnings from Guinness and a close eye on the competition, Tolaram could become the hero Guinness Nigeria needs, or spill the proverbial beer all over themselve

Guinness Nigeria profit and loss after tax (Nbn)

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Selected popular brands Tolaram Group has stakes


DUFIL Prima Foods Plc TG, Arla, Nestle Nigeria


Colgate Pamolive, Lucky Fibres Plc

Selected popular brands Tolaram Group has stakes

Guinness Nigeria profit and loss after tax (Nbn)

No Data Found

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