Wilmar International, based in Singapore, and Tropical General Investments Group have decided to combine their operations in Nigeria and the Republic of Benin into a new 50:50 joint venture with an estimated $12 billion market.
In a statement, the firms revealed that the deal will create one of the most integrated food and agriculture platforms in the area by combining activities in rice, oil palm plantations, edible oils, edible nuts, and food manufacture and distribution.
Mr. Kuok Hong, chairman and CEO of Wilmar International, stated that the collaboration will improve the businesses’ capacity to cater to an expanding African consumer market.
Nigeria and the Republic of Benin are important African consumer markets, according to Kuok. Wilmar is in a unique position to serve customers and support the long-term development of the area thanks to its integrated palm oil and specialty fatsoup manufacturing scale, well-known consumer brands, and nationwide distribution network.
Cornelis Vink, the founder and chairman of TGI Group, stated that the transaction will unite two complementary companies with a same goal of providing high-quality food products.
“TGI Group has established a leading position in Nigerian food manufacturing and distribution for over forty years,” he stated. Through this collaboration, TGI’s local knowledge and Wilmar’s worldwide reach and experience will be combined to provide creative food solutions throughout Africa.
“By integrating Wilmar’s capabilities with TGI Group’s manufacturing scale and local market expertise, we are building a platform that will deepen domestic value addition, support smallholder farmers, create jobs and contribute meaningfully to Nigeria’s food security,” stated Farouk Gumel, vice chairman of TGI Group, the partnership demonstrated the group’s faith in Nigeria’s economic prospects and dedication to local investment.
According to Santosh Pillai, Head of Wilmar’s Africa division, “TGI Group brings strong local execution capabilities, established consumer brands, and a deep distribution network,” making the deal a strategic fit for both companies. In order to better serve customers in Nigeria and the Republic of Benin, we are working together to develop an integrated platform with size, local insight, and operational depth.
In accordance to the firms, subject to regulatory clearances and other usual circumstances, the transaction is anticipated to close during the 2026 fiscal year.
