85 Views

Dangote Flour Mills Sells Noodles Company To Indomie

Dangote Flour Mills has left the noodles business after they sold their assets to Dufil Prima Foods, makers of Indomie noodles, saying it no longer consider it as strategic.

In an announcement on Tuesday, by the company, they said in order to smoothen the transition, it had offered Dufil the use of some of its facilities on an interim basis.

The noodles business was part of the DFM, which the Dangote Group recently reacquired from Tiger Brands.

The Group Managing Director, Dangote Flour Mills, Thabo Mabo, said the divestment was part of strategies of focusing on core areas of flour and pasta production, where the company has substantial market share.

He said that with the divestment, Dangote Flour would now focus on its strengths in flour and pasta and become more profitable by improving in areas of quality, distribution and marketing.

The transaction, which became effective last Monday, according to him, is a win-win situation for Dangote Flour Mills, Dufil Prima Foods and workers of Dangote Noodles, as Dangote Flour stands to have more market presence through robust marketing.

Mabo described the sale and transfer of assets as one of the most perfect divestments, with Dufil Prima Foods taking possession and kicking off production immediately.

Under the terms of the sales agreement, Dufil Prima Foods, according to him, will continue to produce and sell noodles under the brand name, ‘Dangote Noodles’ for two years before changing the brand name.

ALSO READ  A Bad Breath Can Mean You Have Internal Disease...See Details

AD: 2 powerful ways to satisfy any woman in bed & last up 25 mins — See Here

The Chief Executive Officer, Dufil Prima Foods, Deepak Singhal, confirmed the deal and described the acquisition of Dangote Noodles as strategic as Dufil continued to seek more dominance of the noodles market.

Acquiring Dangote Noodles, he said, would help Dufil deepen and sustain its market share as well as gain a strategic advantage in terms of several range of noodles products on its stable.

He restated that Dufil was not shutting down the noodles production line but was commencing production with the brand name of Dangote Noodles immediately.

To ensure seamless transition and commencement of production, Singhal stated that most of the former staff members of Dangote Noodles would be employed by Dufil Prima Foods.

With the new development, some former employees of Dangote noodles would transit to Dufil Prima Foods, while the rest redundant workers had been adequately compensated with mouth-watering severance package for their services to the company over the years.

Singhal added that the terms of the severance package were agreed with the relevant trade unions and the affected workers were paid off immediately to enable those retained by the new owners to start on a fresh contract, while those who would not be retained would not have to wait for their benefits.

Punch

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

How Generator Fumes Killed Two Friends In Edo State.
Shocking
52 views
Shocking
52 views

How Generator Fumes Killed Two Friends In Edo State.

MT - December 14, 2017

A fashion designer and her friend died after inhaling toxic fumes from an electricity generator. The bodies of Muobuikwu Uju Kate and Nkiru Anozie were discovered in…

Nigerian Celebrities Who Went Public With Their Relationships In 2017
Entertainment
47 views
Entertainment
47 views

Nigerian Celebrities Who Went Public With Their Relationships In 2017

PH - December 14, 2017

Celebrity couples often like to keep their romance under wraps, away from the scrutiny of the public.   2017 had its fair share of celebrities coming public with their…

Meet The 99-Year-Old Inmate On Death Row In Enugu Prison With His Son. Photos
Shocking
78 views
Shocking
78 views

Meet The 99-Year-Old Inmate On Death Row In Enugu Prison With His Son. Photos

MT - December 14, 2017

A 99-year-old man identified as Celestine Egboluche from Imo State is arguably the oldest man in a Nigerian prison. According to evangelist Christian Okezie Chukwuka who paid…

How Nigeria Almost Lost Its Place At The 2018 Word Cup After FIFA Sanction
Sports
46 views
Sports
46 views

How Nigeria Almost Lost Its Place At The 2018 Word Cup After FIFA Sanction

MT - December 14, 2017

The Super Eagles escaped being kicked out of the 2018 World Cup, after FIFA awarded three goals and three points to Algeria on Tuesday. Nigeria was sanctioned…

#NobodyUgly: This Throwback Photo Of Olamide Baddo Before The Fame And Money Will Leave You Inspired
Entertainment
51 views
Entertainment
51 views

#NobodyUgly: This Throwback Photo Of Olamide Baddo Before The Fame And Money Will Leave You Inspired

MT - December 14, 2017

Nigerian indigenous rapper, Olamide Adedeji had a very rough background in the ghetto area of Bariga, Lagos State where he struggled with his poor family. The humble…

How Policeman Who Assaulted Tinsel Actress, April Joju Muse Was Punished
Entertainment
67 views
Entertainment
67 views

How Policeman Who Assaulted Tinsel Actress, April Joju Muse Was Punished

MT - December 14, 2017

April Joju Muse took to her Facebook profile on Tuesday, December 12, to share the video she made while the police officer was trying to make his…

I Go Dye Bags UK Ambassadorial Award And Who He Dedicated It To Will Amaze You
Entertainment
47 views
Entertainment
47 views

I Go Dye Bags UK Ambassadorial Award And Who He Dedicated It To Will Amaze You

MT - December 14, 2017

  Comedian, I Go Dye, was recently honored with a Make A Difference Against Corruption Today award by the UKAID and youth alive foundation MADACT. Posting photos of the…

Nigeria’s 2017 Trending Videos On YouTube
Entertainment
44 views
Entertainment
44 views

Nigeria’s 2017 Trending Videos On YouTube

PH - December 14, 2017

YouTube, on Wednesday, released its annual Rewind lists, showcasing the moments that captured the attention of Nigerians and YouTube users around the globe this year. The top…

Chimamanda Adichie’s “Dear Ijeawele, Or A Feminist Manifesto In Fifteen Suggestions” Listed Among the Best Books of 2017
Best of Nigeria
65 views
Best of Nigeria
65 views

Chimamanda Adichie’s “Dear Ijeawele, Or A Feminist Manifesto In Fifteen Suggestions” Listed Among the Best Books of 2017

PH - December 14, 2017

Chimamanda Ngozi Adichie‘s “Dear Ijeawele, Or A Feminist Manifesto In Fifteen Suggestions” has been listed among the Best Books of 2017 by both NPR Books and Audible.…

Ubi Franklin Throws Welcome Party For Daughter As She Arrives Nigeria
Entertainment
74 views
Entertainment
74 views

Ubi Franklin Throws Welcome Party For Daughter As She Arrives Nigeria

MT - December 14, 2017

Back in November 2017, Music executive turned entrepreneur Ubi Franklin revealed in an Instagram post that he’s a father-of-two and not one as people assume. He and his ex-wife, Lilian Esoro share…

Adesua Etomi, Late Moji Olaiya, Others Top List Of Nigeria’s Google Searches For 2017
Entertainment
42 views
Entertainment
42 views

Adesua Etomi, Late Moji Olaiya, Others Top List Of Nigeria’s Google Searches For 2017

MT - December 14, 2017

So much has happened in 2017 that it’s almost impossible to believe they all happened in one year. Today, Google announced the results of its 2017 Year…

Lepacious Bose Recounts How She Hated Herself Due To Her Weight, Yet Still Made People Laugh
Entertainment
57 views
Entertainment
57 views

Lepacious Bose Recounts How She Hated Herself Due To Her Weight, Yet Still Made People Laugh

MT - December 14, 2017

Comedian Lepacious Bose is celebrating 5 years of her weight loss journey with this inspiring post. According to her, the devil stole 25 years of her life…

Daddy Freeze Challenges Davido To Use A Tithe Of His Income To Help Someone And Here’s His Reply
Entertainment
94 views
Entertainment
94 views

Daddy Freeze Challenges Davido To Use A Tithe Of His Income To Help Someone And Here’s His Reply

MT - December 14, 2017

Top Nigerian singer, Davido, has accepted the challenge to use ten percent of his income to bring someone out of poverty. Recall that controversial Nigerian OAP Daddy…

How To Reduce The Risk Of Having Cancer – Oncologist Gives Important Tips In Ibadan  
Food and Health
72 views
Food and Health
72 views

How To Reduce The Risk Of Having Cancer – Oncologist Gives Important Tips In Ibadan  

MT - December 14, 2017

Dr Adebayo Oladeji, a Consultant with the University College Hospital, Ibadan, on Wednesday said youths could reduce their cancer risk by 90 per cent  through  healthy living,…

REVEALED: How EFCC Boss Ibrahim Magu Escaped Assassination
Politics
70 views
Politics
70 views

REVEALED: How EFCC Boss Ibrahim Magu Escaped Assassination

PH - December 14, 2017

The Acting Chairman of the Economic and Financial Crimes Commission (EFCC) Mr. Ibrahim Magu on Tuesday night escaped death by the whiskers as some gunmen stormed his…

Channels Television Emerges TV Station Of The Year For 12th Time
Best of Nigeria
59 views
Best of Nigeria
59 views

Channels Television Emerges TV Station Of The Year For 12th Time

PH - December 14, 2017

Channels Television has won the Nigerian Media Merit Award for Best Television Station Of The Year for a record 12th time. The award-winning station was presented with the coveted…

Davido In A Relationship With A New “Girlfriend”? (See Photos)
Entertainment
103 views
Entertainment
103 views

Davido In A Relationship With A New “Girlfriend”? (See Photos)

MT - December 13, 2017

Since the news of the birth of her 2nd child, whose mother is an American, the music star, Davido, has been reassured to keep his relationships hidden. Earlier…

5 Nigerian Politicians PDP Should Consider As ‘Presidential Candidate’ To Defeat Buhari In 2019
Politics
116 views
Politics
116 views

5 Nigerian Politicians PDP Should Consider As ‘Presidential Candidate’ To Defeat Buhari In 2019

MT - December 13, 2017

Nigeria’s major opposition party, Peoples Democratic Party (PDP), has hinted that it has begun the search for a ‘sellable candidate’ who can match President Muhammadu Buhari in…

Loading...