FrieslandCampina Increases Stake in Nigerian Business
FrieslandCampina has increased its equity stake in its subsidiary FrieslandCampina WAMCO Nigeria from 54.6% to 67.6% at a cost of approximately €180 million. FrieslandCampina WAMCO has been a key player in Nigeria since 1954. The Nigerian Peak brand is one of the key brands in FrieslandCampina’s portfolio and enjoys iconic status in Nigeria.
FrieslandCampina WAMCO Nigeria produces, packages, markets and distributes a large variety of dairy products and is a major force in fast-moving consumer goods in Nigeria. Besides Peak, its leading brands are Three Crowns and Friso. With this transaction FrieslandCampina demonstrates its commitment to Nigeria and to its dairy market.
“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,” says Roelof Joosten, chief executive of Royal FrieslandCampina.
