Ellah Lakes Plc, Nigeria’s integrated agro-industrial firm, has signed an agreement to acquire Agro-Allied Resources & Processing Nigeria Limited (ARPN) from its Singapore-based parent, ARPN PTE Ltd, jointly owned by Tolaram Africa PTE Ltd and Valuestar Holdings PTE Ltd.
The acquisition, which follows shareholder approval at Ellah Lakes’ extraordinary general meeting on July 25, will see the company take full ownership of ARPN’s 100% shareholding, expanding its production footprint and processing capacity.
ARPN’s portfolio includes 11,783 hectares of cultivated land — with 6,280 hectares of oil palm plantations, 2,093 hectares of cassava farms, and another 10,393 hectares available for cultivation. The plantation’s age profile indicates strong long-term yields, with 60% of oil palms already at peak productivity.
Ellah Lakes said the deal aligns with its strategy to deepen operations, enhance scale efficiencies, and strengthen its role in Nigeria’s food security and agro-industrial value chain.
“Signing the sale and purchase agreement with ARPN marks a defining step in Ellah Lakes’ transformation journey,” said Chuka Mordi, managing director and CEO of Ellah Lakes. “This acquisition will more than double our production footprint, accelerate earnings growth, and position us as a national champion in agro-industrial production.”
Madhukar Khetan, managing director and CEO of ARPN, described the transaction as a “proud milestone,” noting that the company had planted 6,280 hectares of palm seedlings within a short period — a record achievement for the sector.
“The acquisition by Ellah Lakes highlights the strength of the platform we’ve created and its alignment with Nigeria’s food security objectives,” Khetan said. “With their expertise and vision, Ellah Lakes is well-positioned to scale this foundation further.”
The deal, which is subject to approval by the Federal Competition and Consumer Protection Commission (FCCPC) and other regulators, is expected to close by December 2025.
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