Ellah Lakes to acquire Agro-Allied Resources & Processing Nigeria Ltd in major expansion drive

Ellah Lakes Plc, Nigeria’s pioneer integrated agro-industrial company, has announced plans to acquire 100% of Agro-Allied Resources & Processing Nigeria Limited (ARPN) from ARPN PTE Ltd, Singapore. ARPN PTE is jointly owned by Tolaram Africa PTE Ltd and Valuestar Holdings PTE Ltd.

The transaction, which received shareholder approval at Ellah Lakes’ Extraordinary General Meeting on July 25, 2025, is expected to significantly expand the company’s operational footprint and processing capacity.

ARPN’s assets include 11,783 hectares of cultivated land comprising 6,280 hectares of oil palm plantations, 2,093 hectares of cassava farmland, and 10,393 hectares of uncultivated land. The oil palm plantations are strategically positioned for long-term productivity, with 60% already at peak production age.

Ellah Lakes said the acquisition will deliver immediate scale, enhance financial performance, and open opportunities for crop diversification and vertical integration, in line with its model spanning cultivation, processing, and downstream market access. The deal remains subject to customary regulatory approvals, including clearance from the Federal Competition and Consumer Protection Commission (FCCPC), with completion targeted for December 2025.

Commenting on the development, Chuka Mordi, Managing Director/CEO of Ellah Lakes, described the acquisition as a defining moment for the company.

“This transaction will more than double our production footprint, accelerate earnings growth, and position us as a national champion in agro-industrial production. It will also advance Nigeria’s food security objectives,” he said.

Madhukar Khetan, Managing Director/CEO of ARPN, expressed pride in the platform built by his team.

“In a remarkably short time, we have planted 6,280 hectares of palm seedlings – a benchmark in our industry. Ellah Lakes’ acquisition underscores the strength of this foundation and ensures it will be scaled further to support Nigeria’s food security goals,” he noted.