TGI Group, Wilmar Seal $12bn Joint Venture to Expand Food and Agriculture Operations in Nigeria, Benin

Tropical General Investments (TGI) Group and Wilmar International have agreed to merge their businesses in Nigeria and the Republic of Benin under a new 50:50 joint venture, creating a food and agriculture powerhouse targeting a market valued at approximately $12 billion.

The companies announced the landmark agreement in a joint statement, revealing that the partnership will combine their operations across agriculture, oil palm plantations, edible oils, edible nuts, rice, food manufacturing, and distribution.

The merger is expected to create one of the largest integrated food and agriculture platforms in West Africa, positioning the new venture to meet growing consumer demand while strengthening regional food security and economic development.

Chairman and Chief Executive Officer of Kuok Hong, Mr. Kuok Hong, described Nigeria and the Republic of Benin as strategic consumer markets with significant growth potential.

“Nigeria and the Republic of Benin are key consumer markets in Africa. The combination of Wilmar’s integrated palm oil and speciality fats business 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,” he said.

Founder and Chairman of TGI Group, Cornelis Vink, said the partnership would unite two complementary organisations with a shared commitment to delivering quality food products.

“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,” Vink stated.

Vice Chairman of TGI Group, Farouk Gumel, said the deal reflects the company’s confidence in Nigeria’s economic 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,” he said.

Wilmar’s Africa Head, Santosh Pillai, described the transaction as a strategic fit that combines strong local execution with global expertise.

“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,” Pillai noted.

According to the companies, the transaction is expected to be completed during the 2026 financial year, subject to regulatory approvals and the fulfilment of customary closing conditions.