FLOUR Mills of Nigeria Plc is set to acquire 71.69 per cent of Honeywell Flour Mills Plc for N80 billion. Disclosing this in a press statement on Monday, Honeywell Group Limited said it had agreed to sell 71.69 per cent of Honeywell Flour Mills Plc to Flour Mills of Nigeria, one of its major competitors. With this development, Flour Mills will have the highest flour milling capacity in Nigeria and one of the highest in Africa. “For over two decades, we have supported Honeywell Flour Mills to build a strong business with a production capacity of 835,000 metric tonnes of food per annum. Over the years, Flour Mills of Nigeria has evolved from a flour mill to a vertically integrated supply chain of food, agro-allied and logistics and support businesses.

Source: Nigerian Tribune November 23, 2021 06:14 UTC