Investors in FrieslandCampina WAMCO Plc, makers of Peak Milk, have a cause to smile as its value has jumped to around $1.54 billion.
FrieslandCampina has increased its equity stake in its subsidiary, WAMCO Nigeria PLC, from 54.58% to 67.61% in a deal that values the Nigerian milk maker at $1.54 billion.
FrieslandCampina acquired 13.03 percent of the shares for a total consideration of approximately 180 million euros.
CEO of Royal FrieslandCampina, Roelof Joosten said:
“The size of the market, the growth outlook and the commitment of the Nigerian people to bolstering the stability and economy of the country are the reasons why FrieslandCampina will continue to invest in its subsidiary FrieslandCampina WAMCO.”
FrieslandCampina WAMCO has been a key player in Nigeria since 1954 with the Nigerian Peak brand is one of the key brands in FrieslandCampina’s portfolio.