Ellah Lakes Acquires ARPN From Tolaram, Valuestar in Expansion Push

Ellah Lakes Plc, an integrated agro-industrial company, has entered into an agreement for the acquisition of 100% shareholding of Agro-Allied Resources & Processing Nigeria Limited (ARPN) from ARPN PTE, Singapore, equally owned by Tolaram Africa PTE and Valuestar Holdings PTE.

The company said on Friday that the acquisition is in line with its strategy to deepen its operational footprint, scale efficiencies, and drive national food security impact.

It said the deal followed shareholders’ approval at its extraordinary general meeting held on 25th July 2025 and “represents a major milestone towards expanding the company’s operational footprint and processing capacity”.

The acquired assets comprise 11,783 hectares of cultivated land (planting over 6,280 hectares of oil palm plantations and associated infrastructure), 2,093 hectares of cassava plantations land and an additional 10,393 hectares of uncultivated land, according to a statement.

“The plantation’s age profile is well-positioned for sustained productivity, with 60% of the oil palms over four years old (entering peak productivity), 30% between two and four years, and the remaining 10% under two years,” it said. “This distribution underpins both current yield and future growth.”

Ellah Lakes said that following the completion of the acquisition, it will consolidate ARPN’s assets into its operations, “delivering immediate scale and financial benefits, while unlocking significant long-term potential for crop diversification and vertical integration”.

“The acquisition aligns perfectly with Ellah Lakes’ vertically integrated business model, which spans primary cultivation, mid-stream processing and downstream market access,” it said, adding that the transaction is subject to the receipt of the customary regulatory approvals, including approval from the Federal Competition and Consumer Protection Commission.

Closing is targeted for December 2025, subject to satisfaction of all conditions precedent.

Chuka Mordi, managing director/CEO of Ellah Lakes, said: “Signing the Sale and Purchase Agreement with ARPN marks a defining step in Ellah Lakes’ transformation journey. This acquisition will more than double our production footprint, accelerate earnings growth, and position us as a national champion in agro-industrial production.

“We are excited about the immediate and long-term value this transaction will deliver to our shareholders and to Nigeria’s broader food security objectives.”