Ellah Lakes Plc has notified the Nigerian Exchange and the investing public that the acquisition of Agro-Allied Resources & Processing Nigeria Limited (ARPN) is ongoing.
In a notice published on the platform of the Nigerian Exchange (NGX), the Company stated thus:
The acquisition of Agro-Allied Resources & Processing Nigeria Limited (ARPN) remains a strategically important milestone for Ellah Lakes’ long-term growth and transformation agenda. The Company confirms that the acquisition process is ongoing, and subject to final conditions and approvals, is expected to close by the end of Q1 2026.
The acquisition is expected to mark a significant milestone in Ellah Lakes’ trajectory, strengthening its operational footprint and positioning the Company for enhanced scale, improved efficiencies, and long-term value creation.
Commenting on the update, Chuka Mordi, Chief Executive Officer of Ellah Lakes Plc, said:
“Ellah Lakes’ strategic direction remains focused on driving operational efficiency, maximising the productivity of our existing plantations, and achieving a significant increase in yield per hectare over the coming years. We are also committed to diversifying our product mix and enhancing vertical integration across palm oil and cassava, positioning the Company for sustainable growth and long-term value creation. In parallel, the acquisition of ARPN represents a complementary milestone that, once completed, will strengthen our operational footprint and support the Company’s broader transformation agenda. We remain disciplined in executing the transaction responsibly and securing the appropriate capital structure. We are confident that, upon closing, this transaction will mark a transformative milestone in Ellah Lakes’ growth journey and create sustainable value for our shareholders. We look forward to providing further updates as we progress toward completion by the end of Q1 2026.”