Flour Mills of Nigeria Plc, commonly called FMN, is one of Nigeria’s largest food and agro-allied companies. The company was founded in 1960 by George S. Coumantaros.
Over the decades, the company has built a wide portfolio of operations that includes flour milling, pasta, noodles, snacks, sugar refining, animal feeds, edible oils, fertilizers, and other agribusiness ventures. It is known for its popular Golden Penny brand, which spans many food products.
FMN’s first investment outside flour milling was in BAGCO in 1978. BAGCO is a pace setter in woven polypropylene sack manufacturing. BAGCO has two giant plants, and it’s by far the largest and supplier of choice to many industrial and agro-allied companies in Nigeria in the packaging of flour, cement, grains, salt, detergent, fertilizer, merchandise, farm harvests, and shopping etc.
Wheat milling forms the financial backbone of the company. It currently has a rated capacity of over 9,000 metric tons per day, making it one of the largest milling capacities in Nigeria.
It also owns many manufacturing plants, 17 modern factories across 12 states, for its various product lines.
Flour Mills of Nigeria is a dominant player in the Nigerian food & agro sector. Its diversified portfolio, strong brands, extensive infrastructure, and recent growth in top-line performance position it well for future expansion, though sustaining profitability will require careful management of costs and external economic risks.
