Logistics company Imperial has completed the strategic acquisition of a controlling stake in consumer products distribution company Africa FMCG Distribution (AFMCG), which offers a nationwide and best-in-class route-to-market solution across multiple channels in Nigeria.
AFMCG's services also extend to co-manufacturing, co-packing, sourcing and value-added services in the fast moving consumer goods (FMCG) sector.
AFMCG has a wide-ranging product portfolio and is managed by an experienced, efficient and highly professional team, supported by robust technology and infrastructure.
“This transaction is aligned with our ambition of becoming the leading market access and logistics partner in Africa by connecting trade flows into and out of Africa. AFMCG boasts unmatched route-to-market solutions in Nigeria,” says Imperial's parent company, global supply chain company DP World Group chairperson and CEO Sultan Ahmed Bin Sulayem.
The transaction offers strategic value to DP World from a supply chain and fintech perspective, in line with the company’s strategic objective of leveraging assets and logistics to create an integrated global supply chain from factory floor to customer door, he adds.
“As one of the largest economies on the African continent, with attractive demographic and macroeconomic fundamentals, Nigeria boasts a significant consumer market and AFMCG presents an ideal opportunity with the necessary scale for us to leverage to sell truly pan-African solutions to our principals and clients,” says DP World Logistics COO and Imperial Group CEO Mohammed Akoojee.
AFMCG has developed longstanding relationships with multinational FMCG companies, established itself as a leading player in the Nigerian consumer market, and demonstrated good corporate citizenship through its broad-based social impact initiatives.
AFMCG leveraged the business legacy built by its parent company diversified multinational Chanrai Group of Companies for over 130 years to develop its relationships and good corporate citizenship.
“This strategic transaction further enhances our foothold in this significant market and allows us to offer further benefit to our principals and keep pace with the evolving needs of the African consumer,” says AFMCG chairperson Subodh Chanrai.