# Flour Mills of Nigeria to acquire 71.69% stake in Honeywell Flour Mills for NGN 80B

Flour Mills of Nigeria Plc signed an agreement to acquire a 71.69% stake in Honeywell Flour Mills Plc from Honeywell Group Limited at an enterprise value of NGN 80 billion. The transaction is subject to regulatory approval.

- Type: Acquisition
- Announced: 2021-11-22
- Where: Nigeria
- Value: $194.0M (80.0B NGN)
- Status: announced
- Products: grain-based foods, sugar, starches, oils, spreads, breakfast cereals, carbohydrate products
- Sectors: [Food Processing Equipment](https://endata.com/sectors/food-processing-equipment.md)

## Companies

- [Honeywell](https://endata.com/companies/621.md) (partner)
- [Flour Mills of Nigeria](https://endata.com/companies/59166.md) (acquirer)
- [Honeywell Flour Mills](https://endata.com/companies/59167.md) (target)

## Sources

- [honeywellgroup.com](https://www.honeywellgroup.com/updates/press-releases/68), 2021-11-22: "The proposed transaction will combine two businesses with shared goals and create a more resilient national champion in the Nigerian foods industry, ensuring long-term job creation and preservation."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.