Johnvents Industries Limited, a leading local agribusiness and manufacturing group, is pleased to announce the successful raising of N18.8 billion through its Series 10 and 11 Commercial Paper Issue in October.

This is the largest capital raising to date by the company since its entry into the domestic debt capital market.

Founded in 2016, Johnvents has demonstrated remarkable growth, with revenues increasing from N59.7 billion in 2022 to N92.7 billion in 2023.

In the first half of 2024, the company generated revenue of N79.5 billion, fueled by strategic expansions into new markets, including Dubai and Uganda. This impressive growth trajectory has boosted investor confidence, leading to the successful capital increase under the commercial paper program.

Mr. John Alamu, Managing Director of Johnvents Group, commented: “ We are immensely proud of what we have achieved over the years since our inception. As we reflect on our journey, we recognize that our growth has been fueled not only by our efforts, but also by the unwavering support of our investors and partners. This invaluable support allows us to further invest in our capabilities, improve our product offering and drive innovation within the agri-food sector.

Alamu further said: “We remain committed to our mission as a leader in this field and are excited about the future opportunities that await us. Looking ahead, our strategic initiatives will continue to focus on sustainability and efficiency, ensuring that we contribute positively to the growth of Nigeria’s agribusiness. landscape while providing value to our stakeholders.

Dr. Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Plc, has expressed pride in United Capital’s role as lead arranger for Johnvents’ record N18.8 billion capital raise. “It is an honor to support Johnvents in achieving this milestone, which reflects their strategic vision and commitment to growth. This success also demonstrates the confidence of the financial market in its activity and its leadership,” » said Dr Adenrele.

He further reaffirmed United Capital’s commitment to empowering SMEs and mid-sized companies, adding: “We remain committed to providing tailored financing solutions that drive sustainable growth. We look forward to continuing our partnership with Johnvents as they grow and dominate the agribusiness sector.

Johnvents has been rated BBB+ by GCR Ratings Limited, Agusto & Co. Limited and Datapro Limited. This rating reflects its strengthened competitive position through market expansion and the addition of a 30,000 tonne cocoa processing plant to its portfolio in 2023. The company has become one of Nigeria’s largest exporters of processed cocoa butter and powder, supplying leading international food and confectionery companies.

About Johnvents

Johnvents Group is an indigenous agribusiness and manufacturing group committed to driving sustainable growth across the agricultural value chain, from production, processing, manufacturing and distribution. The company is at the intersection of all things agriculture, unlocking immense values ​​and ensuring food supply and premium export value for Africa.

Johnvents operates a group structure, with six subsidiaries committed to driving sustainable growth across the entire agricultural value chain in Nigeria and the rest of the world. The subsidiaries are involved in business operations covering production, processing, manufacturing, distribution, trading and export of raw materials and food products.

Subsidiaries include:
• Johnvents Cocoa Factory, Akure – A 15,000 tonne cocoa processing factory producing cocoa liquor, butter, cake and powder. Since the start of its operations in 2021, it has exported 20,000 tonnes of cocoa butter and cake to Europe, the United States and other global markets.

• Premium Cocoa Products (Ile-Oluji) – Nigeria’s pioneering 30,000 tonne capacity cocoa processing plant producing globally recognized cocoa products. Johnvents acquired the facility in February 2023.

• Johnvents Foods – This company launched the Johnvents Pure Cocoa Powder brand, offering 100% cocoa food. Following the acquisition of a factory in Idanre, it also produces other cocoa products such as Oluji Pure cocoa powder, Johnvents chocolate drink, Cocoa Pop and Cocoa Cube. .

• Johnvents Trading – A key player in the raw materials value chain with a combined warehouse capacity of 15,000 tonnes in Kano and other locations, capacity to store up to 75,000 bags of agricultural produce. The company specializes in the sourcing, storage and trading of various products, including rice, soybeans, sesame seeds and cocoa.

• Haven Hauling – A logistics and export company with over 50 trucks and a qualified export team ensuring fast and secure delivery of products to global destinations.

• Johnvents Farms – This company owns about 800 hectares of land in Oda and Ile-Oluji, Ondo State. It includes a 50-hectare oil palm plantation in Ile-Oluji and 750 hectares dedicated to sustainable cocoa production in Oda.

• Noble Eagle Industries Limited – A dynamic industrial player with a diversified production portfolio, offering products in the areas of Edible Oils, Bottled Water, Animal Feed, Breakfast Cereals, Oil palm kernel and seasoning cubes. It meets the growing demands of local and international markets with its versatile production capabilities.