According to reports, Honeywell Group plans to expand its investment before the third quarter. One of its subsidiaries, Flour Mills of Nigeria, permitted the acquisition.
Also, the appropriate regulatory bodies are in support of the deal. This makes it the largest consumer goods company in Nigeria.
The Managing Director of Honeywell Group, Mr. Obafemi Otudeko, in an interview, reveals his hope for the effect the union will have on both companies. Its effect on the FMCG industry and also the Nigerian economy.
Furthermore, he explained how they are happy to get authorization from the appropriate regulatory bodies for the transaction. This will enable them to build a business that will benefit the Nigerian consumers. Also, it will help them to improve their portfolio in advance of the third quarter.