Mabisco shuts down operations, set to sell manufacturing plant
By Oluwaseyi Lawal
Mayor Biscuits Company Limited, a locally-owned biscuit manufacturer, has officially declared the shutdown of its operations and the intent to put its biscuit production facility up for sale. This information was disclosed recently, citing statements from the company’s Finance Director, Segun Matthew.
He said, “We want to sell MABISCO because we want to concentrate on our area of core competence of business,’ adding that ‘to achieve that we have to divest appropriately.”
Founded in 2016, MABISCO was known for its state-of-the-art biscuit manufacturing technologies, boasting an impressive production capacity of 3.5 tonnes per hour and benefiting from access to the Shell LNG Gas terminal.
The company’s recent announcement outlined two sales options: the sale of the entire plant or individual machines. Notably, the plant featured high-speed packing machines capable of handling 350 packs per minute, underscoring its dedication to efficiency.
Prior to its closure in March 2023, MABISCO had successfully built a network of more than 300 distributors nationwide in just seven years of operation. The statement highlighted the company’s substantial 5% market share in the Nigerian biscuits market, with a strong market presence in the north, west, and east regions.
Situated in the vibrant Agbara Industrial Zone of Ogun State, MABISCO occupied an extensive land area spanning 73,732.391 square meters.
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