Wilmar Buys Out Cussons’s Share for $70M to Secure Sole Ownership in PZ Wilmar

On 18 June 2025, Wilmar International announced that it plans to buy out PZ Cussons’s 50% shares for USD 70 million to become the sole owner of PZ Wilmar. In 2010, Wilmar and Cussons formed a 50/50 JV palm oil company in Nigeria. As usual, the transaction is subject to regulatory approval and is expected to close by the end of 2025.

‘Upon completion, Singaporean Firm Wilmar will own 100% stake in PZ Wilmar in Nigeria. PZ Wilmar is the market leader in edible palm oil in the Nigerian market with household brands such as Mamador and Devon King’s. Upon completion, Singaporean firm Wilmar will own 100% stake in PZ Wilmar in Nigeria. PZ Wilmar is the market leader in edible palm oil in the Nigerian market with popular household brands such as Mamador and Devon King.

“We would like to thank PZ Cussons for their cooperation and support since inception of this joint venture in 2010, which has contributed to its success and leading market position in Nigeria.”

Wilmar Chairman & CEO, Mr KUOK Khoon Hong

In addition to oil extraction and refining, PZ Wilmar has stakes in palm plantation as well. Thus, PZ Wilmar is vertically integrated and can provide tracking from tree to table.

With a population of more than 200 million, Nigeria offers a significant market for #Agribusiness, but at the same time poses a major challenge for #FoodSecurity. Wilmar’s strategy is to develop the upstream palm plantation and downstream value addition (#LVA) in Nigeria.