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FrieslandCampina increases commitment to Nigeria

Dutch dairy cooperative FrieslandCampina has increased its equity stake in its subsidiary FrieslandCampina WAMCO Nigeria from 54.58% to 67.61% for a total consideration of approximately €180 million. “The size of the market, the growth outlook and the commitment of the Nigerian people to bolstering the stability and economy of the country are the reasons why […]

Dutch dairy cooperative FrieslandCampina has increased its equity stake in its subsidiary FrieslandCampina WAMCO Nigeria from 54.58% to 67.61% for a total consideration of approximately €180 million.

“The size of the market, the growth outlook and the commitment of the Nigerian people to bolstering the stability and economy of the country are the reasons why FrieslandCampina will continue to invest in its subsidiary FrieslandCampina WAMCO,” said CEO of Royal FrieslandCampina Roelof Joosten.”

FrieslandCampina WAMCO has been a player in Nigeria since 1954. The Nigerian Peak brand is one of the key brands in FrieslandCampina’s portfolio and is said to enjoy iconic status in Nigeria.

The company produces, packages, markets and distributes a large variety of dairy products and fast-moving consumer goods in Nigeria. Besides Peak, its leading brands are Three Crowns and Friso. With this transaction, FrieslandCampina said it demonstrates its commitment to Nigeria and to its dairy market.