FrieslandCampina

An affiliate of Royal FrieslandCampina of the Netherlands, one of the world's largest dairy cooperatives, FrieslandCampina WAMCO has been a fixture of Nigerian households for decades through its flagship Peak Milk brand, widely regarded as Nigeria's number-one milk brand, alongside Three Crowns, Coast, Olympic, Nunu, and Friso. 2024 was a difficult year, with high interest rates, inflation, and FX volatility pushing the company to a net loss and total equity falling to just ₦3.8 million.

The company has since staged one of the sharpest financial recoveries of any listed Nigerian FMCG business. At its 53rd Annual General Meeting in May 2026, revenue for FY2025 grew 25% to ₦615.9 billion, profit before tax surged 566% to ₦32.7 billion, and the company swung to a profit after tax of ₦18.4 billion, with total equity strengthening from ₦3.8 million to ₦18.8 billion. Shareholders approved a dividend of ₦1.00 per 50 kobo share. Management attributed the turnaround to tighter cost control, more efficient commercial execution, and improved local raw milk sourcing, with raw milk volumes up 19% year-on-year and over 13,000 farmers trained through the company's Dairy Development Programme in 2025 alone. Momentum carried into 2026, with unaudited Q1 revenue up 14% to ₦182.9 billion.

The Dairy Development Programme, running since 2010, continues to train local dairy farmers, while the Three Crowns 'Mother's Heart' Initiative supports women's health and wellness alongside school feeding and nutrition education programmes, reinforcing the company's dual identity as both a manufacturer and a partner in local agricultural development.