The owners of indigenous Nigerian biscuits company, Mayor Biscuits Company Limited (MABISCO), has stated that it would be selling its multi-million-dollar plant to reinvest the proceed into a new line of business.
The announcement for the sale of the factory was made Monday in Lagos by the finance director of the company, Mr. Segun Matthew.
Established in 2016, MABISCO, with the state-of-the-art biscuits manufacturing technologies has a total capacity of 3.5 tonnes per hour with access to Shell LNG Gas terminal.
The plant has packing machines that have the capacity to do 350 packs per minutes.
MABISCO is situated in Agbara Industrial Zone, Ogun State and it has the land area of 73,732.391 Square Meter (sq2m).
Prior to shutting down operations in March 2023, MABISCO has inaugurated over 300 established distributors nationwide in 7 years.
In 7 years, MABISCO has accumulated 5% market share in the Nigerian biscuits market, with a sustained market presences in the north, west and east of the country.
The plant is open to two sales options that includes selling the plant or sale of the machines.
According to the Finance Director of MABISCO, Mr. Segun Matthew, “We want to sell MABISCO because we want to concentrate on our area of core competence of business. To achieve that we have to divest appropriately.”
Follow us on:
