Dufil Prima concludes merger with three former subsidiaries
Dufil Prima Foods Plc has announced that it has just completed a merger with three of its former subsidiaries, De United Foods Industries Limited (De United), Northern Noodles Limited (NNL) and Pure Flour Mills Limited (PFM).
Under the merger, the three former subsidiaries have now been dissolved without winding up, leaving Dufil Prima foods Plc as the surviving enlarged company.
According to Dufil Prima, the merger was achieved by a scheme of arrangement unanimously approved by the shareholders of each company and sanctioned by the Federal High Court and appropriate regulatory authorities.
The firm added that the consent of creditors was also duly obtained and the Federal Competition Commission and all other relevant stakeholders duly notified.
The merger guarantees that Dufil Prima Foods Plc as the surviving and enlarged company shall be a stronger and more dependable manufacturing company that has the critical mass, product line diversity, structure and market intelligence to compete in the same market as other big manufacturing companies.
According to the Chief Operating Officer, Dufil Prima Foods Plc, Adesh Jain, following receipt of all regulatory approvals, the union between Dufil Prima Foods Plc, De United Foods Industries Ltd, Northern Noodles Ltd and Pure Flour Mills Ltd took effect from June, 2022 as stipulated in the Scheme of Arrangement.
“This is a huge step towards consolidating our status as Africa’s largest pasta and instant noodle manufacturer. The merger will benefit our numerous consumers, as more resources will be committed to Dufil Prima Foods Plc with the goal of providing superior quality of products. This giant step will also consolidate our efforts in becoming one of the largest FMCG companies in Nigeria, and Africa by extension.”
Jain further stated that the overall outcome will be a more stable company with an extremely strong capital base that will position Dufil Prima Foods Plc as a major player in the FMCG sector in all the markets it operates in.