Wilmar International to acquire a 50% stake in PZ Wilmar from PZ Cussons for $70m.

Wilmar International, a Singaporean food processing and investment holding company, agreed to acquire a 50% stake in PZ Wilmar, a Nigerian edible oils business, from PZ Cussons, a manufacturer of personal healthcare products and consumer goods, for $70m. “Our joint venture with Wilmar in Nigeria has been a long-term and rewarding partnership for us both. I want to thank the Wilmar leadership for their support, and our PZW employees for their contribution and great results over the years. PZ Wilmar is in the best possible hands to build further on its market-leading position, while PZ Cussons continues to invest in and grow its core business,” Jonathan Myers, PZ Cussons CEO.