The Head of State emphasizes the preservation of local interests

The President of Seychelles, Wavel Ramkalawan, congratulated the IBL Group during a meeting at State House on April 1, 2025.

The purpose of this meeting was to announce the sale of Diageo’s 54.4% stake in Seychelles Breweries Limited (SBL) to the Mauritius-based IBL Group. Ramkalawan emphasized the importance of preserving local interests, particularly with regard to jobs for Seychellois people, the protection of the Pension Fund, and maintaining Seybrew as an iconic brand in the country. The President also emphasized the need for Seychelles Breweries to continue supporting community initiatives and national events through its corporate social responsibility.

Despite the sale of its stake, Diageo will retain ownership of its iconic brands such as Guinness, Smirnoff Vodka, and Ready-To-Drink (RTDs). These brands will continue to be produced by Seychelles Breweries under a new long-term licensing agreement, with royalties.

The IBL Group, through its subsidiary Phoenix Beverages, will bring its expertise to the Indian Ocean. This transaction strengthens their partnership with Diageo in Mauritius and is part of a sustainable growth strategy for the region. The delegation present at State House included Diageo executives, including Dayalan Nayager, President of Diageo Africa, and Andrew Ross, President of Seychelles Breweries, as well as IBL executives, including Arnaud Lagesse, President of Phoenix Beverage Group.