Nigerian Breweries Plc (NGX:NB) has acquired a 29% stake in a recycled polyethylene terephthalate (rPET) production facility in Ogun State as part of a strategic partnership aimed at strengthening sustainable packaging supply in Nigeria.
The brewer, one of Nigeria’s largest and part of the global Heineken N.V. (EURONEXT:HEIA) group, producing brands including Star, Gulder and Heineken, disclosed the investment to the Nigerian Exchange Group. It said the partnership will support the establishment of a food-grade recycling venture and help the company meet tightening environmental regulations on plastic waste.
Under the arrangement, Nigerian Breweries will hold a 29% minority stake in the project, while Indorama Ventures Public Company Limited (SET:IVL) will act as the majority partner alongside Genesis Energy Group.
The recycling facility will be developed through a special purpose vehicle, Indorama Ventures Recycling Solutions Limited, which will process post-consumer PET bottles into food-grade recycled resin suitable for beverage packaging.
Nigerian Breweries said the partnership will ensure a reliable future supply of rPET for its operations as Nigeria moves toward mandatory recycled-content requirements under its national plastic waste management policy.
The company noted that although it is a significant investor, it will remain a minority shareholder and will not participate in the control or management of the venture.
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