The Mayor Biscuits Company Limited, a significant indigenous biscuit manufacturer in Nigeria, has announced plans to sell the multimillion dollar biscuit plant and reinvest the revenues in a new business.
According to The Punch, prior to ceasing operations in March of this year, MABISCO had inaugurated over 300 established distributors nationally, according to a statement signed by the company’s finance director, Segun Matthew.
The statement revealed that MABISCO has a sustained market presence in the North, West, and East of Nigeria and has amassed a 5% market share in the country’s biscuit sector over the past seven years.
Additionally, it stated that the plant was willing to sell both the plant and the machinery.
“We want to sell MABISCO because we want to focus on our area of core business competence.
“We must appropriately divest in order to accomplish that,” said Matthew.
With access to the Shell LNG Gas port, MABISCO, which was established in 2016, had a total capacity of 3.5 tonnes per hour and utilized cutting-edge biscuit manufacturing methods.
The factory included packing equipment that could produce 350 packs each minute.
MABISCO has a land size of 73,732.391 Square Metres (sq2m) and is located in the Agbara Industrial Zone of Ogun State.
