PZ - Wilmar Joint Venture

In recent years we have brought world class technical know-how and strong brands to the Nigerian product and labor markets through joint ventures with reputable international companies. This has been the outcome of the Haier and Glanbia JV’s in the formation of HPZ and NUTRICIMA respectively.

On the 20th of December, we announced globally, PZ’s plans to expand its presence in the food and nutrition category in Nigeria by establishing a food ingredients business as a joint venture with Singapore based Wilmar International Limited.

Wilmar is Asia’s leading agribusiness group. Established about 20 years ago it is one of the largest listed companies on the Singapore Exchange with a market capitalization of approximately US $30 Billion. The company is the largest processor and merchandiser of palm oil holding about 40% of the world market share and presently operates in twenty countries employing over 80,000 people.

The company has more than 250 processing plants all over the world, sales to more than 50 countries and has invested in palm oil plantations and refineries in Ghana, Cote d’ Voire and Uganda. The company is the largest processor and merchandiser of palm & lauric oils, holding about 40% of the world market share.

Wilmar’s environmental and CSR records are excellent as they support promotion, procurement and use of sustainable palm oil in locations where they operate. The company grows its plantation business through Greenfield projects and acquisitions to tap on the growing demand for palm oil.

The PZ Wilmar joint venture is structured as two companies; a branded product company (PZ Wilmar Food Ltd) and a palm oil refinery (PZ Wilmar Ltd) company with equities shared equally between the two partners.