BRAND EXPANSION: VERDANT ZEAL ACQUIRES N100m STAKE IN GHANA, GAMBIAN FIRMS
-By Oriade Ayomide
Nigeria marketing communications company, Verdant Zeal Marketing Communications Limited, has extended its operations within the West African market with the acquisition of 60 percent stake in Brands and Products, Ghana and 70 percent stake in Mofix, Gambia in a deal worth N100 million.
The deal which makes the company majority stakeholder in these two marketing communication firms in Ghana and Gambia, also makes the company 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. Group Managing Director Verdant Zeal Limited, Tunji Olugbodi, during the official signing ceremony on Monday stated the process of this acquisition which has now been fully consummated has been on for about a year now.
Olugbodi added that that next phase of expansion will focus on East Africa, specifically, Kenya, Uganda and Rwanda. “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 said