29, 2020 / 01:24 PM /by Chikodi Okereocha of The Nation
Newspaper/ Header Image Credit: The Guardian
Dairy giant FrieslandCampina WAMCO has acquired the dairy business of Nutricima, makers of Olympic, Coast and Nunu, a range of powdered, evaporated and ready to drink milk products.
The acquisition means that Nutricima's dairy business has been integrated into FrieslandCampina WAMCO Nigeria Plc.
Nutricima Limited was founded in Nigeria in 2005 and has, since then, earned itself consumer awareness within the dairy industry.
But, on Tuesday, FrieslandCampina WAMCO announced the acquisition of Nutricima's production facility in Ikorodu, Lagos.
The acquisition included Nutricima's brands namely, Olympic, Coast and Nunu- a range of powdered, evaporated and ready to drink milk products.
These brands have a good presence across the Nigerian dairy market.
The acquisition underlined FrieslandCampina WAMCO's continued commitment to contribute to the development of the Nigerian dairy sector.
It also satisfied the need for additional production capacity for FrieslandCampina WAMCO to meet the growing demand for locally produced evaporated and powdered milk by Nigerian consumers.
President of FrieslandCampina Consumer Dairy, Roel van Neerbos, said: "FrieslandCampina WAMCO has been a key player in Nigeria since 1954. With this acquisition, we demonstrate our strong commitment to Nigeria and its dairy market".
Managing Director of FrieslandCampina WAMCO Nigeria, Mr. Ben Langat, said: "It is our mission to bring affordable and attainable quality dairy products to all Nigerians and meet the growing demand. That's why we are pleased with this acquisition".
Over the last few years, FrieslandCampina WAMCO has invested significantly in capital expenditure, including a new warehouse and a world-class Learning Academy to build capabilities across functions and to drive talent development.
Recently, the company commissioned a state-of-the-art plant for local production of Peak Yoghurt, which is directly linked to its highly successful Dairy Development Programme (DDP).
The DDP is a major investment that has been at the center of Nigeria's backward integration in local milk sourcing over the last decade, with over 9,000 local farmers spread across five states in Nigeria.
Langat assured that FrieslandCampina WAMCO will continue to expand its portfolio, particularly through low unit price packs and by strengthening its distribution reach in the market.
He said having fulfilled all requirements including requisite shareholders and regulatory approvals, FrieslandCampina WAMCO has commenced operations at the newly acquired plant.
The post Friesland Campina WAMCO Acquires Nutricima's Dairy Business first appeared in The Nation Newspaper on September 29, 2020.
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