By Izuchukwu Mayor
Ellah Lakes Plc, Nigeria’s pioneer integrated agro-industrial company, said it has entered into an agreement for the acquisition of shareholding of Agro-Allied Resources & Processing Nigeria Limited (ARPN) from ARPN PTE Ltd, Singapore (ARPN PTE).
The Acquisition follows 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 company said in a statement that the deal is in efforts to deepen its operational footprint, scale efficiencies, and drive national food security impact.
Agro-Allied Resources & Processing Nigeria is equally owned by Tolaram Africa PTE Ltd (Tolaram) and Valuestar Holdings PTE Ltd (Valuestar).
The Managing Director/CEO of Ellah Lakes, Chuka Mordi, was quoted as saying: “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.”
Managing Director & CEO of ARPN Madhukar Khetan, stated: “The signing of this agreement marks a proud milestone for ARPN. In a remarkably short time, we have successfully planted 6,280 hectares of palm seedlings — a benchmark achievement in our industry.
“This success is dedicated to our employees, whose commitment, hard work, and perseverance made it possible. We are deeply proud of what our team has built.
“The acquisition by Ellah Lakes highlights the strength of the platform we have created and its alignment with Nigeria’s food security objectives.
“With their expertise and vision, Ellah Lakes is well-positioned to take this foundation forward, scale it up, and reach even greater heights.”
The acquisition by Ellah Lakes highlights the strength of the platform we have created and its alignment with Nigeria’s food security objectives.
