Tropical General Investments (TGI) Group and Asia-based agribusiness giant Wilmar International have announced a 50:50 joint venture aimed at expanding agricultural production, food processing and consumer goods operations across Nigeria and the Republic of Benin.
The partnership brings together two major players in agriculture, manufacturing and distribution to create one of West Africa’s largest integrated agribusiness platforms, covering oil palm plantations, edible oils, rice, edible nuts, culinary products, food manufacturing and consumer distribution.
The combined business will target an addressable market estimated at about US$12 billion across key food categories in Nigeria and Benin, according to the companies.
The venture is expected to strengthen agricultural value chains by linking farming, processing, manufacturing and distribution, while supporting local production and reducing dependence on imported food products.
TGI Group founder and chairman, Cornelis G. Vink, said the partnership combines the company’s decades of experience in Nigerian food manufacturing and distribution with Wilmar’s global expertise and scale.
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“This partnership will leverage Wilmar’s global scale and expertise as well as TGI’s local knowledge to deliver innovative food solutions across Africa,” Vink said.
TGI vice chairman Farouk Gumel said the integration of Wilmar’s palm oil capabilities and processing expertise with TGI’s manufacturing capacity and distribution network would deepen domestic value addition, support smallholder farmers and create employment opportunities.
The companies said the transaction would help contribute to food security in West Africa by building a stronger locally integrated food production system.
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Wilmar chairman and chief executive Kuok Khoon Hong said Nigeria and Benin represent important consumer markets, with a combined population of more than 260 million people, but still face challenges linked to food production and distribution gaps.
He said combining Wilmar’s global food supply capabilities with TGI’s local market reach would create a platform better positioned to serve African consumers.
Wilmar’s head of Africa, Santosh Pillai, described the deal as a strategic fit that combines TGI’s local execution strength and consumer brands with Wilmar’s upstream agricultural operations and processing expertise.
The completion of the transaction remains subject to regulatory approvals and other closing conditions, with completion expected during the financial year ending December 31, 2026.
