Johnvents Industries Limited, a leading indigenous agribusiness and manufacturing group, is pleased to announce the successful raising of N18.8 billion through its Series 10 & 11 Commercial Paper issuance in October.
This marks the largest capital raise to date for the company since it entered the domestic debt capital market.
Founded in 2016, Johnvents has demonstrated remarkable growth, with revenue soaring from N59.7 billion in 2022 to N92.7 billion in 2023.
In the first half of 2024, the company generated N79.5 billion in revenue, fueled by strategic expansions into new markets, including Dubai and Uganda. This impressive growth trajectory has strengthened investor confidence, leading to the successful capital raise under the Commercial Paper Programme.
Mr. John Alamu, Group Managing Director, Johnvents Group, commented, “ We are immensely proud of what we have accomplished over the years since our inception. As we reflect on our journey, we recognize that our growth has been fueled not just by our efforts but also by the unwavering support of our investors and partners. This invaluable support empowers us to further invest in our capabilities, enhance our product offerings, and drive innovation within the agribusiness sector.”
Alamu further stated, “We remain committed to our mission of leading in this space, and we are excited about the future opportunities that lie ahead.Looking ahead, Our strategic initiatives will continue to focus on sustainability and efficiency, ensuring that we contribute positively to the growth of Nigeria’s agribusiness landscape while delivering value to our stakeholders.”
Dr. Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Plc, expressed pride in United Capital’s role as Lead Arranger for Johnvents’ record-breaking N18.8 billion capital raise. “It’s an honour to support Johnvents in achieving this milestone, which reflects their strategic vision and commitment to growth. This success also demonstrates the confidence of the financial market in their business and leadership,” Dr. Adenrele stated.
He further reaffirmed United Capital’s commitment to empowering SMEs and mid-market enterprises, adding, “We remain dedicated to providing tailored financing solutions that drive sustainable growth. We look forward to continuing our partnership with Johnvents as they expand and lead in the agribusiness space.”
Johnvents has been rated BBB+ by GCR Ratings Limited, Agusto & Co. Limited, and Datapro Limited. This rating reflects its strengthened competitive position through market expansion and the addition of a 30,000 MT cocoa processing plant to its portfolio in 2023. The company has become one of Nigeria’s largest exporters of processed cocoa butter and powder, supplying leading international food and confectionery companies.
About Johnvents
Johnvents Group is an indigenous agribusiness and manufacturing group committed to driving sustainable growth across the entire agricultural value chain from production, processing, manufacturing and distribution. The Company is at the intersection of everything agriculture, unlocking immense values and ensuring food supply and premium export value for Africa.
Johnvents operates a group structure, with six subsidiaries committed to driving sustainable growth across the entire agricultural value chain in Nigeria and the rest of the world. The subsidiaries are involved in business operations spanning across production, processing, manufacturing, distribution, trading and export of commodities and food products.
The subsidiaries include:
• Johnvents Cocoa Factory, Akure – A 15,000 MT cocoa processing plant producing cocoa liquor, butter, cake, and powder. Since starting operations in 2021, it has exported 20,000 MT of cocoa butter and cake to Europe, the USA, and other global markets.
• Premium Cocoa Products (Ile-Oluji) – Nigeria’s pioneer cocoa processing plant with a 30,000 MT capacity, producing globally recognized cocoa products. Johnvents acquired the facility in February 2023.
• Johnvents Foods – This business launched the Johnvents Pure Cocoa Powder brand, offering 100% cocoa nourishment. Following the acquisition of a factory in Idanre, it also produces other cocoa-based products like Oluji Pure Cocoa Powder, Johnvents Chocolate Drink, Cocoa Pop, and Cocoa Cube. .
• Johnvents Trading – A key player in the commodity value chain with a combined warehouse capacity of 15,000 MT in Kano and other locations, capacity to store up to 75,000 bags of agricultural products. The company specializes in the procurement, storage, and trading of various commodities, including rice, soybeans, sesame seeds, and cocoa.
• Haven Hauling – A logistics and export business with over 50 trucks and a skilled export team ensuring timely and secure delivery of products to global destinations.
• Johnvents Farms – This business holds about 800 hectares of land in Oda and Ile-Oluji, Ondo State. It includes a 50-hectare palm oil plantation in Ile-Oluji and 750 hectares dedicated to sustainable cocoa production in Oda.
• Noble Eagle Industries Limited – A dynamic industrial player with a diverse production portfolio, offering products in edible oils, bottled water, animal feeds, breakfast cereals, palm kernel oil, and seasoning cubes. It meets the growing demands of both local and international markets through its versatile production capabilities
