Julius Berger Exits Cashew Business to Focus More on Construction

Construction giant Julius Berger has decided to lease out its cashew processing facilities in a bid to focus more on its core business.

Julius Berger had on September 23, 2020 announced its board’s approval to explore a diversification opportunity in agro-processing.

“Consequent upon the strategy of Julius Berger to be more thematic to its core business by strengthening its capacity in Nigeria and exploring opportunities regionally and globally, the board of Julius Berger, at its meeting of September 24, 2025, took the decision to lease out its cashew processing facilities, upon mutually agreed terms, to Eko Organic Food Industries Limited, whose core business would ensure the continued relevance of Julius Berger and its strategic intent to take value from opportunities in agroprocessing,” the company said on Thursday.

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It said the goal of its board and management “remains to deliver on the strategy of maintaining and strengthening the company’s competitive advantages in the construction sector, and any other sector it ventures into”.