Diageo sells entire stake in Guinness Ghana Breweries PLC
Guinness Ghana Breweries PLC (GGBL), a leading brewery on the Ghana Stock Exchange (GSE), has announced the sale of Diageo Holdings Netherlands BV’s entire 80.4 percent shareholding in the company to the Castel Group.
The transaction, valued at GH₵5.15 per share, will see the Castel Group acquire Diageo’s majority stake for cash consideration. Payment will be made to Diageo in USD, converted at a rate agreed upon by the two parties.
Guinness Ghana Breweries, which was established in 1991, is currently the 11th most valuable stock on the GSE, with a market capitalization of GH₵1.69 billion. It is currently trading at a price of GH₵5.50 per share.
Despite the sale, Guinness Ghana Breweries will remain listed on the GSE. In addition, the company and Castel will enter into new licensing and royalty agreements, ensuring the continued production and distribution of Guinness and other Diageo brands in Ghana.
A statement from the GGBL Board stressed 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."
Castel Group African legacy
The Castel Group, a prominent beverage company with a strong presence across Africa since the 1960s, has forged partnerships with several leading multinational consumer companies. Its acquisition of Guinness Ghana is expected to strengthen its portfolio in the region.
The Board reassured stakeholders that the transaction would not disrupt operations or impact employees. "It remains business as usual at Guinness Ghana, and we do not envisage any changes to operations or impact on employees," the statement noted.
The transaction is expected to be completed later in 2025, pending relevant regulatory approvals.
This development marks a new chapter for the brewery, as it looks to build on its legacy under the leadership of Castel Group while maintaining strong ties with Diageo to sustain its renowned brands in the Ghanaian market.