Table of Contents
Key Points
- Mauritius-based Phoenix Beverages acquires 54.4% of Seychelles Breweries from Diageo to expand in the Indian Ocean region.
- Diageo will continue licensing Guinness, Smirnoff, and other brands to Seychelles Breweries, despite exiting equity ownership.
- Recent acquisitions in Seychelles and Kenya signal Phoenix’s strategy to scale regionally beyond its Mauritius base.
Phoenix Beverages Group, led by Mauritian businessman Arnaud Lagesse, has completed the acquisition of a 54.4 percent stake in Seychelles Breweries Limited from British multinational Diageo Plc for about $80 million. The deal marks a significant step in Phoenix’s ongoing effort to strengthen its presence in the Indian Ocean region.
New licensing deal with Phoenix
The transaction, announced in April, builds on an existing partnership between Phoenix and Diageo in the region. It also supports Diageo’s broader plan to focus its portfolio and simplify its operations across key markets. Phoenix Beverages, a subsidiary of Mauritius-based IBL Group, has long worked with Diageo, and this deal further deepens that relationship.
Under the new arrangement, Seychelles Breweries will continue to produce and distribute Guinness and other Diageo brands like Smirnoff RTDs in the local market. Although Diageo is selling its stake, it will keep ownership of its key brands, which will now be licensed to the local operator under a new royalty and licensing agreement. Diageo will also retain distribution oversight through its in-market partner, IPS.
Phoenix Beverages expands beyond Mauritius base
Founded in 1931, Phoenix Beverages has become one of Mauritius’ most prominent consumer goods companies, with a wide range of products that include beer, spirits, soft drinks, bottled water, and juices. The company holds the bottling rights for Coca-Cola and Diageo products on the island, and many of its brands are firmly rooted in everyday Mauritian life.
Although Mauritius remains its base, Phoenix Beverages has steadily begun to look beyond its shores. Under the leadership of Mauritian businessman Arnaud Lagesse, the company is quietly extending its footprint across East Africa and the Indian Ocean, seeking new opportunities while building on its strong foundation at home.
Seychelles, Kenya moves deepen regional reach
In March 2024, the company acquired a 28.15 percent stake in Nairobi-based Africa Originals Limited, the producer of Savannah Brands. The deal gave Phoenix Beverages exposure to fast-growing products like Kenyan Originals Alcoholic Fruit Cider, Gin, Iced Tea, and Tonic.
With its latest moves in Seychelles and Kenya, Phoenix Beverages is steadily building a broader regional footprint, leveraging partnerships and acquisitions to tap into new markets while maintaining long-standing ties with global players like Diageo.
