Guinness Ghana Breweries PLC (GGBL), a prominent brewery listed on the Ghana Stock Exchange (GSE), has announced the sale of Diageo Holdings Netherlands BV's full 80.4 percent stake in the firm to the Castel group.
The Castel Group will purchase Diageo's controlling shareholding for GH₵5.15 per share in cash. Payment will be made to Diageo in USD, at a rate agreed upon by both parties.
Guinness Ghana Breweries, founded in 1991, is the 11th most valuable stock on the Ghana Stock Exchange, with a market value of GH₵1.69 billion. The stock presently trades at GH₵5.50 per share.
Despite the transaction, Guinness Ghana Breweries will continue to trade on the Ghana Stock Exchange. In addition, the business and Castel will sign new license and royalty agreements to ensure that Guinness and other Diageo brands continue to be produced and distributed in Ghana.
The GGBL Board's statement emphasized Diageo's commitment to the Ghanaian market, stating, "Diageo remains deeply committed to Ghana and, in partnership with Castel, will continue to drive the brand and marketing strategy for Guinness in Ghana, to ensure Diageo's exceptional capabilities in brand building and innovation continue to drive long-term growth for Guinness in Ghana."
The Castel Group's African heritage
The Castel Group, a significant beverage corporation with a strong presence in Africa since the 1960s, has formed alliances with a number of big international consumer companies. Its acquisition of Guinness Ghana is intended to boost its regional portfolio.
The acquisition is likely to be finalized later in 2025, subject to any regulatory clearances.
This decision signals a new chapter for the brewery, as it seeks to expand on its reputation under Castel Group's leadership while keeping close relations with Diageo to continue its well-known brands in Ghana.
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