Phoenix Beverages to acquire a 54.4% stake in Seychelles Breweries from Diageo.

Phoenix Beverages, a beverage producer with a rich legacy in brewing, soft drink manufacturing, and spirits distribution, agreed to acquire a 54.4% stake in Seychelles Breweries, a beverage company in the Seychelles, from Diageo, a British multinational alcoholic beverage company. Financial terms were not disclosed. “I am excited to extend our successful partnership with Phoenix Beverages, a long-term partner in the Indian Ocean region, to further unlock value for Seychelles Breweries and deliver long-term sustainable growth,” Dayalan Nayager, Diageo President Africa and Chief Commercial Officer.