FrieslandCampina WAMCO Aquires Nutricima’s Dairy Business to Expand its Footprint in Nigeria
FrieslandCampina WAMCO has completed the acquisition of Nutricima’s dairy company in Nigeria. According to a statement seen by Business Elites Africa on Nairametrics, the dairy business of Nutricima will be merged into FrieslandCampina WAMCO Nigeria PLC. In March, an agreement for the acquisition was signed by FrieslandCampina and PZ Cussons in March.
Established in Nigeria in 2005, Nutricima Limited has since gained market recognition within the milk industry. FrieslandCampina WAMCO has acquired a range of powdered, evaporated and ready-to-drink milk products from the company’s production facility in Ikorodu, Lagos State, and the Olympic, Coast and Nunu brands. These products have a wide presence in the Nigerian dairy industry.
This acquisition illustrates the continued effort of FrieslandCampina WAMCO to contribute to the growth of the Nigerian dairy sector. The acquisition satisfies FrieslandCampina WAMCO’s need for additional production capacity to meet the increasing demand by Nigerian consumers for locally generated evaporated and powdered milk.
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The President of FrieslandCampina Consumer Dairy, Roel van Neerbos stated that “FrieslandCampina WAMCO has been a key player in Nigeria since 1954. With this acquisition, we demonstrate our strong commitment to Nigeria and its dairy market.”
Ben Langat, Managing Director of FrieslandCampina WAMCO Nigeria said “It is our mission to bring affordable and attainable quality dairy products to all Nigerians and meet the growing demand. That’s why we are pleased with this acquisition.”
FrieslandCampina WAMCO has invested extensively in capital expenditure over the last few years, including a new factory and a world-class learning academy to develop skills across functions and accelerate the growth of talent.
The company recently commissioned a state-of-the-art local production plant for Peak Yoghurt, which is directly linked to its highly active milk development program; a significant investment that has been at the core of Nigeria’s backward integration into local milk procurement over the past decade, with over 9,000 local farmers spread throughout 5 states in Nigeria.
FrieslandCampina WAMCO will continue to expand its footprint through low unit price packs and by strengthening its market distribution scope.
Having fulfilled all requirements including requisite shareholders and regulatory approvals, FrieslandCampina WAMCO has commenced operations at the newly acquired plant.
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