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Kelloggs To Splash $450million for 50% Stake In This Nigerian Company

Editor by Editor
September 16, 2015
in Uncategorized
Kelloggs To Splash $450million for 50% Stake In This Nigerian Company
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  • Kellogg Co (K.N) is setting up a joint venture with the African arm of Singapore’s Tolaram Group to bolster its breakfast and snack food offerings in West Africa.
  • Kellogg will also pay $450 million for a 50 percent stake in Lagos, Nigeria-based Multipro, a food sales and distribution company owned by Tolaram, with an option to buy a stake in Tolaram’s African unit.
  • Tolaram Africa Foods owns 49 percent of Dufil Prima Foods Plc, the maker of Indomie noodles, Minimie snacks, Power oil and Power pasta.
  • Kellogg said it intends to develop snacks and breakfast items for the West African market through the joint venture.
  • The world’s largest cereal maker will also get access to Multipro’s distribution network in Nigeria and Ghana, and potentially in the Republic of Congo, Ivory Coast, Cameroon and Ethopia.

 

 

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