Mayor Biscuits Company Limited, an indigenous biscuits company, has confirmed the shutdown of its operations and the decision to sell its manufacturing biscuits plant.
This announcement was contained a statement made available to the press on Tuesday, quoting 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.”
Established in 2016, MABISCO boasted cutting-edge biscuits manufacturing technologies with a remarkable capacity of 3.5 tonnes per hour, supported by access to the Shell LNG Gas terminal.
The company’s announcement highlighted two sales options: selling the entire plant or individual machines.
According to the statement, the plant featured high-speed packing machines capable of handling 350 packs per minute, showcasing its commitment to efficiency.
Before its closure in March 2023, MABISCO had established a network of over 300 distributors nationwide within seven years of operation.
The statement noted that the company held a significant five per cent market share in the Nigerian biscuits market, maintaining a strong market presence across the north, west, and east regions.
MABISCO, situated in the bustling Agbara Industrial Zone, Ogun State, occupied an extensive land area measuring 73,732.391 square meters.