Home Business News Companies Sanyo Acquires 25% Stake In Olam Nigeria's Noodles Business

Sanyo Acquires 25% Stake In Olam Nigeria’s Noodles Business


Olam 2

The Nigeiran Food Business can’t get anymore competitive can it….

Japan’s Sanyo Foods has joined forces with Olam International to manufacture and distribute instant noodles in Nigeria, an announcement from the two companies said on Thursday.

The US$20m deal will see Sanyo Foods acquire a 25.5% stake in Olam’s instant noodles business in Nigeria. The two companies will set up a joint venture that will manufacture and distribute instant noodles in Nigeria and across sub-Saharan Africa.
Olam’s instant noodles business, under the Cherie brand, was part of Crown Flour Mills’ wheat milling business, which the company acquired in 2010. Olam says it is now among the top four players in instant noodles in Nigeria with a turnover of $24m in 2012.
In case you didn’t know, Olam is one of the highest non-oil exporters in Nigeria and is a company that employs about 1,380 Nigerians based in 45 locations.Olam is a Singapore based company present in about 65 countries.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Ellah Lakes Plc - nairametrics

Corporate Deal: Ellah Lakes Plc confirms acquisition of Telluria Limited

Port Harcourt-based Agribusiness company, Ellah Lakes Plc, yesterday informed the Nigerian Stock Exchange and the investing public of its recent acquisition of Telluria Limited.
Summer Transfer Window

Here’re the top ten football signings so far, across Europe

The Summer transfer window has barely been opened and huge signings have already been made across the European continent. Real Madrid and Barcelona have so far been dominant in this regard.

Sam Amadi vs Eyo Ekpo twitter tirade explained

The controversy pertaining to the sudden reduction in electricity tariffs few months to the 2015 elections, was resurrected recently when Eyo Ekpo, then a...