Tropical General Investments Group and Singapore-based Wilmar International have agreed to merge their businesses in Nigeria and the Republic of Benin under a new 50:50 joint venture targeting a market estimated at $12bn.
The companies disclosed in a statement that the transaction would combine operations across 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, Mr Kuok Hong, said the partnership would strengthen the companies’ ability to serve a growing consumer market in Africa.
Kuok said, “Nigeria and the Republic of Benin are key consumer markets in Africa. The combination of Wilmar’s integrated palm oil and speciality fatsoup’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 deal will bring together two complementary businesses with a shared focus on delivering quality food products.
He said, “For more than four decades, TGI Group has built a leading position in Nigerian food manufacturing and distribution. This partnership will leverage Wilmar’s global scale and expertise as well as TGI’s local knowledge to deliver innovative food solutions across Africa.”
Vice Chairman of TGI Group, Farouk Gumel, said the partnership underscored the group’s confidence in Nigeria’s economic prospects 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 transaction as a strategic fit for both organisations, saying, “TGI Group brings strong local execution capabilities, established consumer brands and a deep distribution network. 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 companies stated that the transaction is expected to close during the 2026 financial year, subject to regulatory approvals and other customary conditions.
Arinze Nwafor is a journalist at Punch Newspapers with five years of experience reporting on Nigeria’s economy, industry, data, metro, and judiciary. He focuses on highlighting growth, policy, and market challenges shaping Africa’s largest economy. Arinze’s reporting reflects practical newsroom experience, editorial judgment, and a strong commitment to accurate, informative, and audience-focused journalism.
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