Ellah Lakes Acquires Agro-Allied Resources For Expansion

Ellah Lakes Plc has agreed to acquire 100 per cent shareholding of Agro-Allied Resources & Processing Nigeria Limited (ARPN) to deepen its operational footprint, scale efficiencies, and drive national food security impact.

In a statement on the Nigerian Exchange Limited, the company said the acquisition follows shareholders’ approval at its Extraordinary General Meeting held on July 25, 2025 and represents a major milestone towards expanding the Company’s operational footprint and processing capacity.

The transaction will involve the acquisition of 100 per cent shareholding of ARPN. The acquired assets comprise 11,783 hectares of cultivated land (planting over 6,280 hectares of oil palm plantations and associated infrastructure), 2,093 hectares of cassava plantation land and an additional 10,393 hectares of uncultivated land.

The plantation’s age profile is well-positioned for sustained productivity, with 60 per cent of the oil palms over four years old (entering peak productivity), 30 per cent between two and four years, and the remaining 10 per cent under two years. This distribution underpins both current yield and future growth.

Ellah Lake explained that “following the completion of the Acquisition, Ellah Lakes will consolidate ARPN’s assets into its operations, delivering immediate scale and financial benefits, while unlocking significant long-term potential for crop diversification and vertical integration.

The Acquisition aligns perfectly with Ellah Lakes’ vertically integrated business model, which spans primary cultivation, mid-stream processing and downstream market access.

“The Transaction is subject to the receipt of the customary regulatory approvals, including approval from the Federal Competition and Consumer Protection Commission (FCCPC). Closing is targeted for December 2025, subject to satisfaction of all conditions precedent.”

The managing director/CEO of Ellah Lakes, Chuka Mordi, said, “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 this transaction’s immediate and long-term value to our shareholders and Nigeria’s broader food security objectives.”

The 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.”

Ellah Lakes Plc is a rapidly growing indigenous agribusiness company leading Nigeria’s agricultural transformation. Established in 1980 as a fish farming enterprise, the Company underwent a strategic shift in 2019 following the acquisition of Telluria Limited. It repositioned itself as a vertically integrated agro-industrial player focused on crop cultivation, processing, and sustainable value creation.