In an effort to broaden their market share and boost profitability in the consumer goods sector, Dufil Prima Foods makers of Indomie noodles have acquired the three noodle production lines of May&Baker Nigeria Plc. With the acquisition Dufil Prima Foods – the makers of Indomie Noodles – are slated to be the market leader in the Instant Noodle segment of the country. It also solidifies its position as the number one noodle brand of choice in the nation.
Financial Adviser/Solicitor of Dufil Prima Foods, Nnenna Ejekam said the deal comes after board and shareholders and members of both companies and the Securities and Exchange Commission (SEC) reached an agreement. According to her, the deal is valued at N775million. Subsequently, with the acquisition, Dufil Prima Foods will take ownership of the May&Baker Noodles factory in Ota along with all of its equipment. Also Dufil Prima will solely own the Mimee Instant Noodles trademark.
Mr. Girish Sharma, the Chief Operating Officer of Dufil Prima Foods, confirmed the deal stating that it was a strategic move to gain major dominance of the Nigerian noodles market.
Dating back to November 2017, Dufil Prima acquired plants formally owned by Dangote Noodle Limited in a deal that was worth N3.75billion ($12.26Million). That deal gave the company ownership of Dangote factories in Ikorodu and Calabar.
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