In a deal valued at about N100 million sealed Monday in Lagos, a leading Nigeria marketing communications company, Verdant Zeal Marketing Communications Limited, has extended its operations within the West African market.
Verdant Zeal acquired 60 percent stake in Brands and Products, Ghana and 70 percent stake in Mofix, Gambia – which makes the company majority stakeholder in these two marketing communication firms in Ghana and Gambia.
Following this landmark acquisition done among others through share purchase and transfer agreements, Verdant Zeal is now the first Nigeria indigenous marketing communications company to buy over and own majority stake in other foreign advertising agencies across the African continent.
With the acquisition, the former Brands and Products, and Mofix will now be known as Verdant Zeal Marketing Communications, Ghana and Verdant Zeal Marketing Communications, Gambia.
Tunji Olugbodi, group managing director (GMD), Verdant Zeal Limited, noted on Monday at the official signing ceremony that the process of this acquisition which has now been fully consummated has been on for about a year now.
Olugbodi said that next phase of expansion will focus on East Africa, specifically, Kenya, Uganda and Rwanda, adding that “with the thrust, Verdant Zeal is able to consolidate its growing influence and clientele across the West Coast as well as nurture emerging opportunities in the markets.”
“The Nigerian marketing communications industry has evolved as a dynamic and vibrant one over the years and we need to break new grounds. The industry needs to embrace new thinking and break new grounds to remain dynamic and forward looking. The time has come for the industry to embrace innovation more than ever before and remain vibrant and creative in addressing the needs of clients across the globe”, he added.
