Phoenix Beverages Acquires 54.4% of Seychelles Breweries for Growth

In a significant development for the beverage sector across the Indian Ocean, Phoenix Beverages Ltd (PBL), a dominant force in the drinks market on Mauritius and Réunion, has formalised an agreement to acquire a 54.4% stake in Seychelles Breweries Ltd from Diageo Holdings Netherlands B.V. and Guinness Overseas Limited, both part of the renowned Diageo Group.

Since its inception in 1972, Seychelles Breweries, commonly referred to as Seybrew, has cultivated an esteemed reputation for its award-winning beers, premium spirits (to be enjoyed responsibly), and non-alcoholic beverages.

This strategic move significantly enhances PBL’s regional presence while reinforcing its long-term growth ambitions within the Indian Ocean.

“This acquisition is a key milestone for Phoenix Beverages as we pursue our vision of regional expansion,” asserts Bernard Theys, CEO of Phoenix Beverages Ltd.

“Seychelles Breweries represents a brand with a rich heritage and a diverse product range that appeals to a wide consumer audience.

We are dedicated to honouring that legacy. By bringing Seybrew into our portfolio, we will unlock substantial operational synergies, improve distribution networks, and effectively pool our resources.

With our expertise, we intend to elevate the Seybrew brand while maintaining its unique identity and strong connections with customers, ensuring its sustainable growth for the future.”

Dayalan Nayager, President of Diageo Africa and Chief Commercial Officer, expressed his optimism: “I am thrilled to deepen our partnership with Phoenix Beverages, a valued collaborator in the Indian Ocean region known for its expertise. Together, we will continue to nurture the growth of Seychelles Breweries with a commitment to sustainable development.”

Contributing his perspective, Arnaud Lagesse, Chairman of Phoenix Beverages Ltd, remarked: “At Phoenix Beverages Group, we regard mergers and acquisitions as essential steps in our growth journey.

This investment in Seychelles Breweries holds special significance for us. As part of the IBL Group, this initiative is fully aligned with our IBL Beyond Borders strategy.

It is not just about broadening our operational scope; it represents the beginning of a new chapter for generations to come.

This undertaking will accelerate our growth beyond what organic development could achieve alone.

Strengthening our foothold in Seychelles equips us with the momentum to create lasting value and solidify our leadership in the beverage industry across the Indian Ocean.”

Following the completion of this transaction, Seychelles Breweries Ltd will continue to be listed on the Seychelles stock exchange – MERJ Exchange. The deal is expected to be finalised by June 2025.

Source: Le Mauricien