Promasidor Nigeria
From Wikipedia, the free encyclopedia
| Company type | Private |
|---|---|
| Industry | Consumer packaged goods |
| Predecessor | Wonder Foods Nigeria Limited |
| Founded | 1993 in Nigeria |
| Founder | Robert Rose |
| Headquarters | Isolo, Lagos , Nigeria |
| Products | Cowbell, Onga |
| Parent | Promasidor |
Promasidor Nigeria Limited is a consumer packaged goods company headquartered in Isolo, Lagos. It is a subsidiary of South Africa based Promasidor Holdings. The firm's major brands include Cowbell milk, Loya milk, Sunvita cereal, Onga seasoning and Top Tea beverages.[1] The firm introduced the sale of powdered milk in sachets which was later followed by competitors.
The firm is a leading producer of milk in Nigeria.[2]
Promasidor Nigeria Limited began operations in Nigeria in March 1993 under the business name of Wonder Foods. Cowbell milk was the first product introduced to the country and it was initially sold at a size similar to the market leader, Peak milk. However, sales generated by the firm's 400 gram powdered milk was not encouraging. To compete with the other milk brands, the firm imported larger packages of milk which are then sold to wholesalers who then scoop the milk from the larger package into smaller polythene bags for resale. This sales and distribution method did get some traction. Thereafter, Cowbell decided to import smaller sachets of milk to target middle and low income earners. This selling strategy increased the firm's revenue. Thereafter, the firm diversified into other sectors such as chocolate drinks, tea and seasonings.[3] In 2010, it recorded an annual turnover of $300 million.[4]
In 2003, the firm changed its business name from Wonder Foods to Promasidor to promote uniformity across the group.[5]