Flour Mills Buys Honeywell For N80bn

Flour Mills Buys Honeywell For N80bn

Flour Mills Buys Honeywell For N80bn

(FMN), a diversified Nigerian agribusiness firm, has agreed to buy Honeywell Flour Mills PLC (HFMP) for $80 billion.

Ejes Gist News reports agreed to sell a 71.69 percent stake in Honeywell Flour Mills to Flourmills of Nigeria, according to a press statement.

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“For the proposed merger of FMN and Honeywell Flour Mills Plc (“HFMP”), an HGL portfolio company, through its affiliates. HGL will sell a 71.69 percent stake in HFMP to FMN for NGN80 billion in total enterprise value.”

“The proposed transaction will combine two businesses with shared goals to create a more resilient national champion in the Nigerian foods industry, ensuring long-term job creation and preservation.


Honeywell Group is a Nigerian conglomerate that is involved in a variety of industries, including food and agriculture, telecommunications and infrastructure, real estate, and financial services.



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