Guinness Ghana Breweries PLC (GGBL) has announced a landmark transaction in which Diageo Holdings Netherlands BV will sell its entire 80.4% stake in the company to the Castel Group.
The deal, valued at GH₵ 5.15 per share, will be finalized in dollars following an agreed exchange rate between Diageo and Castel.
In a statement issued on January 28, 2024 by the Board of Directors of Guinness Ghana Breweries PLC, the company emphasized that new licensing and royalty agreements will be established to ensure the continued brewing, production, and distribution of Diageo’s iconic brands in Ghana, including Guinness.
“Diageo remains deeply committed to Ghana and, in partnership with Castel, will continue to drive the brand and marketing strategy for Guinness in Ghana,” the statement noted.
The Castel Group, a leading beverage company on the African continent since the 1960s, has established partnerships with top consumer multinationals. With this acquisition, Castel reinforces its commitment to expanding its footprint and sustaining long-term growth in Ghana’s beverage industry.
Diageo also reassured stakeholders that “it remains business as usual at Guinness Ghana, and we do not envisage any changes to operations or impact on employees.” Following the transaction’s completion, which is expected by the end of 2025 pending regulatory approvals, Guinness Ghana will remain listed on the Ghana Stock Exchange (GSE).
In recent years, Diageo has strategically divested from several African markets as part of its shift towards an “asset-light” operating model. Notably, in 2022, Diageo sold its Guinness Cameroon operations to the Castel Group for £389 million.
This move was followed by the sale of its Meta Abo Brewery in Ethiopia to a unit of Castel in the same year. In 2024, Diageo further reduced its presence in Africa by selling its 58% stake in Guinness Nigeria to Singapore-based Tolaram Group for approximately US$70 million.
Despite these divestments, Diageo has retained ownership of the Guinness brand and continues to license its production and distribution in these markets.
Since the announcement of the deal on January 28th, trading activity on the GSE has remained stable, with Guinness Ghana’s share price holding steady at GH₵5.50.
The stock has shown no fluctuations, maintaining this price level from January 21, 2025, to January 28, 2025.
Market activity has been relatively subdued, with trading volumes remaining low for several days. On January 27, 2025, a total of 35 shares were traded, while January 23, 2025, saw the highest trading volume in this period, with 50 shares changing hands at a total value of GH₵ 275.00.
On other days, such as January 28 and January 24, there were no recorded trades, indicating that most investors are holding onto their shares while assessing the long-term impact of the transaction.
With the stock remaining listed on the GSE and no expected disruptions to operations, investors appear to be adopting a wait-and-see approach, carefully monitoring developments before making any major moves.
Last Updated on March 16, 2025 by samboad
