Ellah Lakes Plc., Nigeria’s pioneer integrated agro-industrial company, has expressed optimism that its acquisition of 100% shareholding in Agro-Allied Resources & Processing Nigeria Ltd. (ARPN) will strengthen its presence in the agro-industrial sector.
The Deputy Managing Director of Ellah Lakes, Mr. Paul Farrer, made the disclosure at a media briefing on Thursday in Lagos.
Farrer said the company plans to acquire and install a 20-tonne-per-hour mill at an ARPN facility in Edo State. The new mill will complement an existing six-tonne-per-hour mill already operating at Ellah Lakes’ oil palm plantation in the state.
Describing the acquisition as a pivotal moment, Farrer said the acquired assets include 11,783 hectares of cultivated land, 2,093 hectares of cassava plantations, and 10,393 hectares of uncultivated land.
“Agro-Allied Resources & Processing Nigeria Ltd. brings a robust land bank and operational assets that align perfectly with our vision of vertical integration and sustainable growth. The ARPN acquisition will deliver immediate scale and financial benefits, achieving in months what would have taken years organically, while unlocking long-term potential for crop diversification and vertical integration. This will deliver value to all stakeholders,” he said.
The Chief Executive Officer of Ellah Lakes, Mr. Chika Mordi, announced that the company had secured approval from the Securities and Exchange Commission for a ₦235 billion public offer.
Mordi said the proceeds from the offer, which opens on November 10, will fund the acquisition of ARPN, with the company issuing 18 billion new shares as part of the offer.
“This significant infusion is earmarked for acquiring a strategic agricultural asset to expand operational capacity and diversify revenue streams. This capital raise signals Ellah Lakes’ shift from a rebuilding phase to aggressive expansion and technological differentiation, aiming to establish a next-generation agribusiness platform that aligns with Nigeria’s agricultural transformation agenda,” Mordi said.
He added, “We are confident that by deploying this capital effectively and executing our strategy, Ellah Lakes will solidify its position as the leading indigenous agro-industrial company in West Africa.”
Mordi also highlighted the company’s vertical integration strategy, noting that the commissioning of its six-tonne-per-hour crude palm oil mill strengthens its revenue model and reduces vulnerability to external supply chain disruptions.
“Ellah Lakes has bolstered its resilience through diversified revenue streams, combining long-term oil palm investments, medium-term cassava cultivation, and immediate revenue from piggery operations. We will continue exploring opportunities to add value,” he said.
He further highlighted the company’s multi-dimensional positioning strategy across Nigeria’s agricultural landscape. “With over 30,000 hectares of land assets spanning Enugu, Edo, Ekiti, and Ondo states, the company is geographically diversified, capturing varied climatic advantages essential for multi-crop operations. We have also diversified into piggery and cattle rearing to boost market share,” Mordi said.
Ellah Lakes, established in 1980 as a fish farming enterprise, underwent a strategic shift in 2019 following its acquisition of Telluria Ltd., repositioning itself as a vertically integrated agro-industrial player focused on crop cultivation, processing, and value creation.
