Business BUA Group Sells Its Flour Mills Business to Olam Int'l for $275m

L

LequteMan

Guest
One of Nigeria’s largest foods and infrastructure conglomerates, BUA Group, has announced the divestment of its flour business to Olam International in a deal worth USD275million.

Billionaire industrialist and Founder of BUA Group, Abdulsamad Rabiu said, “This signing marks a major milestone in our medium term strategy. Over the years, we have run one of the largest and most efficient flour milling businesses in Nigeria and are confident in the value it will add to the buyer’s operations.

Alhaji Rabiu who is also the Executive Chairman of BUA, said that expanding the backward integration of its sugar plantations in Kwara and Kogi Sates is key.

In his comments, Olam’s Managing Director/CEO for Grains, K. C. Suresh said that the deal will significantly boost Olam’s flour and wheat milling operations in Nigeria to meet consumer needs. He expressed confidence in BUA’s flour milling business offering great value for money.
 

Attachments

  • bua group.jpg
    bua group.jpg
    10.3 KB · Views: 26
  • bua group2.jpg
    bua group2.jpg
    69.4 KB · Views: 25
Back
Top