Wilmar and TGI Group form a 50:50 West Africa agribusiness venture, targeting growth, food security, jobs, and regional expansion.
Wilmar International Limited has entered into definitive agreements with Tropical General Investments (TGI) Group to establish a 50:50 joint venture, creating a new integrated platform for agribusiness and food operations across West Africa. This strategic partnership aims to combine the respective Nigerian and Republic of Benin businesses of both entities, focusing initially on these two countries with an eye towards broader regional expansion.
The joint venture will encompass a comprehensive portfolio of complementary operating businesses and brands. This includes upstream agriculture, oil palm plantations, edible oils, edible nuts, rice, culinary products, food manufacturing, and extensive nationwide distribution networks. The combined addressable market size for these focus categories in Nigeria and the Republic of Benin is estimated to be over US$12 billion. The new entity will be held by a Singaporean holding company, jointly owned by Wilmar and TGI Group on an equal shareholding basis.
The rationale behind this collaboration is deeply rooted in leveraging the distinct strengths of both companies. Wilmar International, a global agribusiness powerhouse, brings its integrated capabilities, processing expertise, and a portfolio of trusted consumer brands. TGI Group, a leading force in Nigerian food manufacturing and distribution, contributes its profound local market expertise, strong execution capabilities, established consumer brands, and an extensive route-to-market infrastructure. This synergy is designed to deliver innovative food solutions and high-quality, affordable food and consumer products to West African consumers.
The formation of this joint venture is expected to have significant economic and industry-specific impacts. Economically, the partnership is poised to deepen domestic value addition, support smallholder farmers, and create jobs, thereby contributing meaningfully to Nigeria's food security and regional economic growth. From an industry perspective, the integrated platform will possess substantial scale across the entire agricultural value chain, from cultivation and processing through refining, manufacturing, and branded consumer distribution. This integration will create a more robust and efficient supply chain, enhancing the availability of essential food products in the region.
Both parties view this venture as a long-term platform for sustainable growth, designed to scale with the evolving needs of consumers and markets across Africa. By combining global expertise with large local manufacturing capability, the partnership aims to expand sustainably, deepen regional value chains, and create enduring value across the continent for decades to come. The transaction remains subject to regulatory approvals and is anticipated to be completed during the 2026 financial year.
