PZ Cussons Plc to Divest Stake in PZ Wilmar Limited to Wilmar International

PZ Cussons Plc has entered into an agreement to divest its 50% stake in PZ Wilmar Limited, a joint venture with Wilmar International Limited, for a consideration of $70 million.

This transaction marks PZ Cussons’ complete exit from the Nigerian palm oil business, which was established in 2010.

Upon completion of the deal, expected in the last quarter of 2025, Wilmar International Limited will assume full ownership of PZ Wilmar Limited.

The company, known for producing popular cooking oil brands such as Mamador and Devon King’s, will now be wholly owned by Wilmar.

The agreement is subject to regulatory approvals, and once finalized, PZ Cussons will receive a cash consideration of $70 million.

This development sig is a significant shift in the ownership structure of PZ Wilmar Limited, with Wilmar taking full control of the business.

The transaction is a strategic decision by PZ Cussons to exit the palm oil business, and it will allow the company to focus on other areas of its operations.

The deal also presents an opportunity for Wilmar to consolidate its position in the Nigerian market.