Ellah Lakes to Acquire Agro-Allied Resources and Processing Nigeria
Kayode Tokede
In line with its strategy to deepen its operational footprint, scale efficiencies, and drive national food security impact, Ellah Lakes Plc, on the Nigerian Exchange Limited (NGX) announced that it has entered into an agreement for the 100 per cent acquisition of shareholding of Agro-Allied Resources & Processing Nigeria Limited (ARPN) from ARPN PTE Ltd, Singapore (ARPN PTE).
ARPN PTE is equally owned by Tolaram Africa PTE Ltd and Valuestar Holdings PTE Ltd. The Acquisition follows shareholders’ approval at its recently held Extraordinary General Meeting in Lagos and represents a major milestone towards expanding the company’s operational footprint and processing capacity.
The acquired assets comprise 11,783 hectares of cultivated land (planting over 6,280 hectares of oil palm plantations and associated infrastructure), 2,093 hectares of cassava plantations land and an additional 10,393 hectares of uncultivated land.
The plantation’s age profile is well-positioned for sustained productivity, with 60per cent of the oil palms over four years old (entering peak productivity), 30per cent between two and four years, and the remaining 10per cent under two years. The distribution underpins both current yield and future growth.
Following the completion of the Acquisition, Ellah Lakes will consolidate ARPN’s assets into its operations delivering immediate scale and financial benefits, while unlocking significant long-term potential for crop diversification and vertical integration.
The acquisition aligns with Ellah Lakes’ vertically integrated business model, which spans primary cultivation, mid-stream processing and downstream market access.
The transaction is subject to the receipt of the customary regulatory approvals, including approval from the Federal Competition and Consumer Protection Commission (FCCPC). Closing is targeted for December 2025, subject to satisfaction of all conditions precedent.
The Managing Director/CEO of Ellah Lakes, Chuka Mordi, in a statement, said: “Signing the Sale and Purchase Agreement with ARPN marks a defining step in Ellah Lakes’ transformation journey. This acquisition will more than double our production footprint, accelerate earnings growth, and position us as a national champion in agro-industrial production. We are excited about the immediate and long-term value this transaction will deliver to our shareholders and to Nigeria’s broader food security objectives.”
The company’s stock price closed last week at N13.47 per share on the NGX.
