Nigeria’s TGI, Wilmar forge $12 billion food venture across West Africa

TGI Group, an international investment and holding company and Singapore-based Wilmar International are combining their businesses in Nigeria and the Republic of Benin in a 50:50 joint venture aimed at creating one of West Africa’s largest integrated food and agriculture platforms.

The transaction, valued around a $12 billion addressable market, will unite operations spanning agriculture, oil palm plantations, edible oils, rice, food manufacturing, distribution, and consumer goods. The companies expect the deal to close during the 2026 financial year, subject to regulatory approvals.

The partnership comes as Africa’s rising population, urbanization, and expanding middle class continue to drive demand for food products, positioning Nigeria and Benin among the region’s most attractive consumer markets.

Building a regional agribusiness leader

Wilmar Chairman and Chief Executive Officer Kuok Hong said the combination strengthens the companies’ ability to serve millions of consumers across West Africa.

“Nigeria and the Republic of Benin are key consumer markets in Africa,” he said. “The combination of Wilmar’s integrated palm oil and specialty fats capabilities with TGI’s manufacturing scale, established brands, and nationwide distribution network creates a uniquely positioned business for long-term growth.”

The venture is expected to leverage Wilmar’s global expertise in agricultural commodities and food processing while capitalizing on TGI’s deep market presence and extensive distribution infrastructure across Nigeria.

Combining global scale with local expertise

TGI Group Chairman Cornelis Vink described the transaction as a strategic partnership between two complementary businesses with a shared commitment to food production and innovation.

“For more than four decades, TGI has built a leading position in Nigerian food manufacturing and distribution,” Vink said. “This partnership combines Wilmar’s global scale and expertise with TGI’s local knowledge to deliver innovative food solutions across Africa.”

Headquartered in Lagos, Nigeria TGI has expanded from a chemical trading company into a multinational conglomerate operating across agriculture, food processing, pharmaceuticals, FMCG manufacturing, and industrial chemicals.

Wilmar, one of the world’s largest agribusiness companies, operates across the agricultural value chain, from oil palm cultivation and edible oil refining to sugar milling, rice processing, and consumer food brands. The new venture positions both companies to capitalize on growing food demand while strengthening food security and agricultural development across West Africa.