By Adedapo Adesanya
Multinational dairy products company, FrieslandCampina WAMCO Plc, has completed the acquisition of PZ Cussons’ dairy business in Nigeria, Nutricima.
This was confirmed by the Executive Director, Corporate Affairs, FrieslandCampina WAMCO Nigeria, Mrs Ore Famurewa, in a statement released on Tuesday in Lagos.
Mrs Famurewa said that FrieslandCampina and PZ Cussons signed an agreement regarding the acquisition in March, noting that Nutricima’s dairy business would be integrated into FrieslandCampina WAMCO Nigeria Plc.
She said, “FrieslandCampina WAMCO has acquired the company’s production facility in Ikorodu, Lagos State, and the brands Olympic, Coast and Nunu, a range of powdered, evaporated and ready to drink milk products.
“These brands have a good presence across the Nigerian dairy market,” Mrs Famurewa added.
She further noted that the acquisition underlines FrieslandCampina WAMCO’s continued commitment to contributing to the development of the dairy sector in the country.
She added that the acquisition satisfies the need for additional production capacity for FrieslandCampina WAMCO to meet the growing demand for locally produced evaporated and powdered milk by Nigerian consumers in line with the Federal Government policy.
“Having fulfilled all requirements including requisite shareholders and regulatory approvals, FrieslandCampina WAMCO has commenced operations at the newly acquired plant,” she said.
The statement also quoted Mr Roel van Neerbos, President, FrieslandCampina Consumer Dairy, as saying, “FrieslandCampina WAMCO has been a key player in Nigeria since 1954.
He said, “With this acquisition, we demonstrate our strong commitment to Nigeria and its dairy market.”
Also, Mr Ben Langat, Managing Director, 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,” he added.
FrieslandCampina WAMCO Nigeria is an affiliate of Royal FrieslandCampina of The Netherlands, one of the largest dairy cooperatives in the world. It is the makers of Peak and Three Crowns brands of milk in Nigeria.
The company trades its equities on the NASD Over-the-Counter (OTC) Securities Exchange and Business Post reported that it appreciated by 41 kobo or 0.3 per cent to N137.91 per share on Monday after rising by 5.5 per cent last week.
This platform equally noted in a report that PZ Cussons on Thursday (September 24) held the Extraordinary General Meeting (EGM) where approval was unanimously given to execute the sale and transfer of a portion of land situated within its Ikorodu Industrial Estate where Nutricima’s factory conducts its business operations to FrieslandCampina WAMCO Nigeria Plc.
Dipo Olowookere