Ellah Lakes Plc, has entered an agreement to acquire 100% shareholding of Agro-Allied Resources & Processing Nigeria Limited (ARPN) from ARPN PTE Ltd, a Singapore-based entity equally owned by Tolaram Africa PTE Ltd and Valuestar Holdings PTE Ltd. The transaction, approved by shareholders at an Extraordinary General Meeting (EGM) on July 25, 2025, is a significant step toward expanding the company’s agricultural operations.
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The acquisition includes 11,783 hectares of cultivated land, comprising 6,280 hectares of oil palm plantations, 2,093 hectares of cassava plantations, and 10,393 hectares of uncultivated land.
With 60% of the oil palms over four years old and entering peak productivity, the assets are positioned to drive immediate output and long-term growth. The deal is expected to strengthen Ellah Lakes’ vertically integrated model, covering cultivation, processing, and market distribution, while creating opportunities for crop diversification.
Shareholders at the EGM also approved raising up to ₦250 billion through public offerings, private placements, or other equity mechanisms to fund the acquisition.
The transaction, pending approval from the Federal Competition and Consumer Protection Commission (FCCPC Nigeria), is expected to close by December 2025.
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