Sep 30, 2020, 08:05 EST
Bronx, United States, Sep 30, 2020, 08:05 /Comserve / -- Nutricima’s dairy business has been acquired by FrieslandCampina WAMCO. FrieslandCampina along with PZ Cussons had signed an agreement back in March which was regarding the acquisition.
Nigeria, Sept. 30, 2020 - Nutricima’s dairy business has been acquired by FrieslandCampina WAMCO. FrieslandCampina along with PZ Cussons had signed an agreement back in March which was regarding the acquisition. The dairy business of Nutricima will be incorporated into FrieslandCampina WAMCO Nigeria PLC.
Earning itself consumer awareness in the dairy industry, Nutricima Limited (the “Company”) was established back in 2005 in Nigeria. The Company’s production facilities in Ikorodu and Lagos State have been acquired by FrieslandCampina WAMCO. Apart from this, the brands Olympic, Coast, and Nunu, which are a range of powdered and evaporated milk products that are ready to drink have also been acquired. There is a significant presence of these brands in the dairy market of Nigeria.
FrieslandCampina WAMCO has committed to add to the development of the dairy sector of Nigeria. This acquisition is proof of that commitment. There is a need for additional production capacity in order to meet the growing demand for locally produced evaporated and powdered milk. This is satisfied by the acquisition initiated by FrieslandCampina WAMCO for their Nigerian consumers.
There has been a significant investment in capital expenditure by FrieslandCampina WAMCO over the last few years. This not only includes a new warehouse but also a top of the line Learning Academy which would help build capabilities across various functions and also assist in the process of talent development. A technologically advanced plant was recently commissioned by FrieslandCampina WAMCO which would help in the local production of Peak Yoghurt which is a part of its successful dairy development program. With over 9000 local farmers belonging to 5 different states across Nigeria, this major investment has been the pinnacle of Nigeria’s backward integration in sourcing local milk over the last decade.
By increasing its distribution reach in the market, FrieslandCampina WAMCO will work to expand its portfolio which will also be done through low unit price packs. After completing all requirements and formalities which include regulatory approvals, FrieslandCampina WAMCO has started its operations at the newly acquired plant.
Back in 2019, FrieslandCampina WAMCO had signed a partnership with the International Fertilizer Development Center (IFDC) to boost milk production for the various pastoralist milk producers in Nigeria. This partnership included 1,800 milk producers out of which 950 were women. Due to the integrated technology aspects of this project, many women and young men were given the chance to get involved in technical, entrepreneurial, and leadership training.
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