Manufacturing · Corrugated packaging
Corrugated Packaging Manufacturer
Second-largest independent corrugator in the South-West, 36,000 t/year capacity, family owners seeking full sale.
Agbara, Ogun, Nigeria18 years in operation220 employees
79
Readiness /100Due Diligence CompletedAsset-heavyProfitableFamily-owned
Asking price
₦6.5bn – ₦7.5bn
Revenue
₦6.5bn – ₦7.2bn
EBITDA
₦1bn – ₦1.1bn
Cash flow
₦760m
Employees
220
Transaction
Full acquisition · 100%
Company identity is protected until you pass the NDA stage. Express interest to begin the process.
Business overview
A 16-year-old corrugated packaging manufacturer operating a modern five-ply corrugator and two flexo lines from an owned 14,000 m² plant in the Agbara industrial cluster. It serves 60 FMCG, beverage, agro-export and pharmaceutical customers with no customer above 18% of revenue. The founding family is seeking a full exit to a strategic buyer or a packaging platform.
Business model
Made-to-order corrugated packaging on 45–60 day terms; long-term supply agreements with take-or-pay minimums for two anchor customers.
Investment thesis
Nigerian corrugated demand is growing with FMCG and export volumes while modern capacity is scarce. Utilisation at 64% offers immediate operating leverage.
Highlights
- 36,000 t/year modern capacity, 64% utilised
- Owned 14,000 m² plant with C of O
- ISO 9001 certified; 60 active customers, top customer 18%
- Revenue CAGR 20%, EBITDA margin 15%
- Professional management team beyond the family
Risks
- FX exposure on imported kraftliner
- Power cost (self-generated) ≈9% of revenue
- Term loan of ₦1.9bn secured on plant
- Contested import duty assessment (₦40m)
Figures are seller-reported and subject to Acqiva verification. The readiness score is indicative and not a substitute for independent due diligence or a formal valuation.