Royal FrieslandCampina, the parent company of FrieslandCampina WAMCO Nigeria Plc has increased its equity stake in its Nigerian subsidiary, FrieslandCampina WAMCO from 54.58 per cent to 67.61 per cent, a 13.03 per cent additional shares worth approximately €180 million euros.

The CEO of Royal FrieslandCampina, Roelof Joosten said “The size of the market, the growth outlook and the commitment of the Nigerian people to bolstering the stability and economy of the country are two reasons why FrieslandCampina will continue to invest in its subsidiary, FrieslandCampina WAMCO.”

FrieslandCampina WAMCO has been a major player in the Nigerian dairy market since 1954. There brands include Peak milk, Three Crowns, Friso, among others and all enjoy iconic status in the country.

Friesland said with this transaction, it has demonstrated its commitment to Nigeria and to its dairy market.

Under the terms of the transaction which was executed on the NASD OTC trading platform, FrieslandCampina has acquired 127,184,030 ordinary shares in FrieslandCampina WAMCO at N315.67 per share.