Guinness Nigeria Plc has announced its decision to sell off its Ikeja factory and re-inject the proceeds into the modernization of its operations.

According to a statement from the company signed by its Deputy Managing Director, Mr. Babatunde Savage, the decision to sell the premise, in which the company built its first brewery in 1962, and which many years ago has metamorphosed into a logistics and office space, was to actualize the company's vision of becoming the most celebrated business in Nigeria.

He explained that the company has embarked on an expansion process as well as modernizing its business in order to provide better services to its numerous customers, suppliers and employees.

"To meet the needs of the business at the current time, while investing in its future growth, the Board of Guinness Nigeria Plc recently approved the disposal of the facility and the re-investment of the proceeds of the disposal in the new logistics centre and headquarters office building. Meanwhile, we will continue to do business in our present locations while construction goes ahead," he explained.

He said the Ikeja premises, which was the birthplace of Guinness Nigeria, has served the company well and had been central to its business growth in the past 46 years.

He told Daily Independent that the factory had been fallow for about 15 years, only serving as distribution centre to the company's customers.

Savage said the demarcation of the road in front of the factory has also made it difficult for trucks within the premise to maneuver their ways when driving out of the premise.

He said the company believed there was no sense in keeping the premise when it could sell it and use the proceeds to secure another expanse of land that would allow the free flow of its trucks.

He said the Board as well as the shareholders of the company were privy to the decision to sell the premise.

He disclosed that as part of the company's modernization process, Guinness would construct a state-of-the-art logistics centre and a world-class headquarters office building within the Ogba premise of the company.

This, he noted, demonstrates the company's ability to forward plan and move with the time.

He also reiterated the commitment of Diageo Plc, Guinness parent company, to continue to invest in the company and in the economy of the country.

"It is important to stress that our parent company, Diageo Plc, the world's leading premium drink business will continue to invest in Guinness Nigeria, as well as the Nigerian economy," he assured.