TGI Group, Wilmar Form $12bn Joint Venture for Nigeria, Benin Food Businesses

Tropical General Investments (TGI) Group and Singapore-headquartered agribusiness giant Wilmar International have agreed to combine their businesses in Nigeria and the Republic of Benin under a new 50:50 joint venture targeting a market estimated at $12 billion.

The transaction will bring together businesses spanning agriculture, oil palm plantations, edible oils, edible nuts, rice, food manufacturing and distribution, creating one of the largest integrated food and agriculture platforms in the region.

Chairman and Chief Executive Officer of Wilmar International, Kuok Khoon Hong, said the partnership positions both companies to better serve a rapidly growing consumer market.

“Nigeria and the Republic of Benin are key consumer markets in Africa,” he said. “The combination of Wilmar’s integrated palm oil and specialty fats capability with TGI Group’s manufacturing scale, established consumer brands and nationwide distribution platform creates a uniquely positioned business to serve consumers and contribute to the long-term development of the region.”

Founder and Chairman of TGI Group, Cornelis Vink, said the transaction combines two highly complementary businesses built around delivering quality food products.

“For more than four decades, TGI Group has built a leading position in Nigerian food manufacturing and distribution,” Vink said. “This partnership will leverage Wilmar’s global scale and expertise as well as TGI’s local knowledge to deliver innovative food solutions across Africa.”

Also speaking, Vice Chairman of TGI Group, Farouk Gumel, said the partnership reflects the Group’s confidence in Nigeria’s future and commitment to local investment.

“By integrating Wilmar’s capabilities with TGI Group’s manufacturing scale and local market expertise, we are building a platform that will deepen domestic value addition, support smallholder farmers, create jobs and contribute meaningfully to Nigeria’s food security.”

Wilmar’s Africa Head, Santosh Pillai, described the deal as a strong strategic fit for both organisations.

“TGI Group brings strong local execution capabilities, established consumer brands and a deep distribution network,” Pillai said. “Together, we are creating an integrated platform with the scale, local insight, and operating depth to better serve consumers in Nigeria and the Republic of Benin.”

The transaction is expected to close during the 2026 financial year, subject to regulatory approvals and customary conditions.