Biscuit Company, MABISCO Puts Up Factory For Sale, 2yrs After Workers Protest of N1k Daily Pay
- The owners of indigenous Nigerian biscuits company, MABISCO have put up the company for sale
- The multi-million-dollar plant located in Ogun state was shut down in March 2023
- The owners hope to get a buyer soon and reinvest the proceeds into a new line of business
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Mayor Biscuits Company Limited (MABISCO) factory is now up for sale eight months after shutting down the operation.
The sale announcement was made by the company's finance director, Segun Matthew, on Monday, 16 October 2023.
Source: Facebook
Matthew explained that the plant is open to two sales options: selling the plant or selling the machines, Arisetv reports.
He said:
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“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."
The factory located in Ogun State had decided to close operations in March 2023, citing various challenges.
MABISCO has been one of Nigeria's striving biscuit businesses since its establishment in 2016, with over 300 established distributors nationwide.
Also, it has accumulated a 5 per cent market share in the Nigerian biscuits market, with a sustained market presence in the country's north, west, and east.
Some of its famous brands include MABISCO digestive biscuits, MABISCO cookies, MABISCO Cabin Biscuits, and Coconut Biscuits.
Details of the MABISCO factory
MABISCO, established in 2016, has a total capacity of 3.5 tonnes per hour with access to Shell LNG Gas terminal.
The factory is located in Agbara Industrial Zone, Ogun State, and has a land area of 73,732.391 Square Meters.
The plant has packing machines that can do 350 packs per minute.
The company in 2021 had to deal with workers protesting over N1,000 daily pay.
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