Tag Archives: Promasidor Nigeria Limited

Ajinomoto buys stake in Promasidor for $532 million

Japanese food and ingredient manufacturer, Ajinomoto has agreed to buy a 33% stake in Promasidor at a cost of $532m (approx. ¥55.8bn yen).

The stake gives Ajinomoto access to Promasidor’s distribution network in 36 African countries. The deal values Promasidor at about $1.6bn.

Ajinomoto seeks to attract Africa’s growing middle class consumers to its products. The company sees rising demand for low-priced foods and daily essentials on the continent.

IFC to invest $25m (N8bn) in Promasidor to modernize plant

Promasidor Nigeria Limited, makers of Cowbell milk, Onga seasoning, Loya milk and Top tea has finalized arrangements with the International Finance Corporation (IFC), a member of the World Bank Group, to obtain a $25m loan (over N8bn) which would be used to expand production and improve efficiency at the company’s Lagos plant.

Promasidor Nigeria seeks $25m loan from IFC to modernize plant

Promasidor Nigeria Limited, makers of Cowbell, Loya and Miksi powdered milk, among others has applied for a $25m loan from the International Finance Corporation (IFC), a member of the World Bank Group to upgrade its Lagos plant, which would start operation in 2017.

Promasidor unveils two new infant baby formulas at Breastfeeding Symposium

Promasidor Nigeria Limited, maker of Cowbell milk among other products has introduced two new infant milk formulas to the Nigerian market – Cowbell Tina 1 and Cowbell Tina 2.

The products were unveiled at a Breastfeeding symposium organized by the company and titled “The Nutrition Wisdom of Infant Feeding Choices”. The event was held at the Civic Centre, Victoria Island, Lagos.