Wilmar acquires full control of PZ Wilmar for $90m

Completion is expected in the fourth quarter of 2025.

Wilmar International Limited has signed a deal to acquire the remaining 50% stake in Nigerian palm oil company PZ Wilmar Limited from PZ Cussons plc for $90m (US$70m) in cash.

The acquisition, subject to regulatory approvals, will give Wilmar full ownership of PZ Wilmar. Completion is expected in the fourth quarter of 2025.

The deal was based on a discounted cash flow valuation as of February 2025 and will be funded through Wilmar’s internal resources.

Wilmar said the acquisition will not have a material impact on its net tangible assets or earnings per share for the financial year ending 31 December 2025.

Wilmar Chairman and CEO Kuok Khoon Hong said the move reflects confidence in Nigeria’s palm oil sector and consumer growth.

He confirmed plans to expand both upstream and downstream operations and to find a strong local partner after the transition.

PZ Wilmar was established in 2010 as a joint venture between Wilmar and PZ Cussons. It owns one of the largest sustainable palm oil operations in Nigeria and markets leading edible oil brands Mamador and Devon King’s. The company also holds minority stakes in two Nigerian plantations majority-owned by Wilmar.

Following completion, PZ Wilmar will be renamed. Details will be announced later.

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