Mondelez International has announced that it is making an investment of $50 million at its new Lagos plant to meet “surging demand” for hot cocoa drink brand Cadbury Bournvita in Nigeria.
The company said the investment would support the company’s global growth strategy by expanding the availability of regional power brands in key markets and creating a more efficient supply-chain footprint.
The new Lagos plant is fully automated and replaces an older facility that could not support necessary expansion plans, including the installation of new equipment, Mondelez added.
Commenting on the move, Daniel Myers, executive vice president integrated supply chain at Mondelez, said:”Our new Lagos plant is the latest example of our global effort to build a world-class supply chain. This investment in Nigeria boosts our production capacity for Cadbury Bournvita by more than 30 percent for 180 million Nigerian consumers. It also complements our recent investments in Egypt and South Africa where we’ve increased chocolate production capacity and created one of our region’s biggest supply hubs for gum, moving our chocolate and gum power brands to advantaged assets”.
Source: Mondelez International