Nigeria: TGI Group and Wilmar International form joint venture

TGI Group, the diversified conglomerate, and Wilmar International, the Singapore-headquartered agribusiness group, have entered into definitive agreements to combine their respective operating businesses in Nigeria and the Republic of Benin into a 50:50 joint venture.

The transaction will create an integrated agricultural and food platform held by a Singapore holding company jointly owned on an equal shareholding basis. The combined business will span upstream agriculture, oil palm plantations, edible oils, edible nuts, rice, culinary, food manufacturing and nationwide distribution, targeting an addressable market size of over $12 billion across the focus categories in Nigeria and the Republic of Benin. Completion of the transaction is subject to customary conditions precedent, including merger control and regulatory clearances, and is expected to take place during the financial year ending 31st December 2026.

Commenting on the transaction, Cornelis G. Vink MFR, founder and chairman of TGI Group, said: “This partnership will leverage Wilmar’s global scale and expertise as well as TGI’s local knowledge to deliver innovative food solutions across Africa”.

Source: TGI Group