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The acquisition of Matna Foods Company Limited by Agbeyewa Industries—the agribusiness arm of Cavista Holdings—marks a pivotal shift in Nigeria’s cassava sector. This action moves beyond a simple change in ownership; it is a strategic intervention designed to bridge the structural gaps between cassava production and industrial processing.
Despite being one of Nigeria’s most abundant crops, cassava has long been plagued by fragmented supply chains, high post-harvest losses, and a lack of industrial integration. Cavista Holdings aims to solve this by linking large-scale cultivation with established processing power.
A Fully Integrated Value Chain
Agbeyewa Industries already manages Nigeria’s largest cassava farm and operates an extensive in-grower/out-grower scheme. By acquiring Matna Foods—a company with 20 years of expertise in producing international-standard starch—Cavista has created an end-to-end platform. This integration is expected to stabilize supply lines for industrial starch.
Mr. Niyi John Olajide, Chairman of Cavista Holdings, noted that this investment mirrors the group’s success in revitalizing distressed assets.
”Cavista has a history of repositioning under-utilized assets for growth. The transformation of Ikogosi Warm Springs Resort from an abandoned site into a premier destination is proof of our discipline. Our investment in Matna Foods follows that same path—strengthening capacity and creating jobs. This is how we support food security and industrial development simultaneously,” Olajide stated.
The acquisition is set to provide immediate benefits to smallholder farmers across Southwest Nigeria. By securing a guaranteed offtake through Matna’s processing facilities, the deal provides farmers with predictable demand and increased income stability.
Matna Foods remains fully operational, with immediate plans to modernize operations and expand engagement with suppliers and industrial partners.
