Nigeria, Aug. 21 -- Beer maker Champion Breweries has agreed to buy all the brand assets and intellectual property of the range of products within the Bullet drink portfolio, the company disclosed on Wednesday.

The new decision represents its first acquisition since a new majority owner took over last year.

The deal opens up the window for the Uyo-based brewer, known for producing lager beer and malt drinks, to try its hand at energy drinks and high-growth food and beverage products as it seeks to broaden its offerings in a market where profit margin is typically slim and volume can be the winning factor.

"The transaction is structured as an asset carve-out, with the assets to be held in a newly incorporated company in the Netherlands,...