Julius Berger Plc approves lease of cashew nut facilities to Eko Organic Food Industries

Julius Berger Plc has announced that its Board has approved the decision to lease out its cashew nut processing facilities to Eko Organic Food Industries Limited, as part of its diversification and strategic realignment plan.

The company disclosed in a notice to the market that the move aligns with its broader strategy of focusing more strongly on its core construction business, while still deriving value from opportunities in the agro-processing sector.

According to the statement, the Board reached the decision at its meeting on September 24, 2025, after reviewing the company’s diversification programme. The lease agreement, to be executed on mutually agreed terms, will enable Eko Organic Food Industries – whose primary business focus is agro-processing – to take over the operation of the facilities.

Julius Berger said the arrangement ensures the continued relevance of its agro-processing venture while reinforcing its strategic intent to capture value in that sector without losing sight of its dominant position in construction.

“The goal of the Board of Directors and Executive Management remains to maintain and strengthen the company’s competitive advantage in construction and any other sectors it ventures into,” the company stated.