Singaporean Olam International Acquires Nigerian Titanium Holdings for $ 167 Million
Singaporean based Olam International disclosed to regulatory authorities in Singapore that is has acquired Nigerian based Titanium Holdings for US$ 167 million or NGN 26.7 billion.
Titanium Holdings is Nigeria’s largest biscuit and sweets manufacturer controlling about 18% and 28% respectively in these markets.
According to a statement released by Olam to the Singapore Stock Exchange, Titanium owns three biscuit and candy making factories including a fleet of trucks and other warehousing and distribution assets in Nigeria.
Titanium had a turnover of $162 million last year.
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