Livestock Feeds Plc (Nigeria)

Livestock Feeds was established in 1963 by Pfizer as a subsidiary to the pharmaceutical business which had been introduced to Nigeria few years earlier. Following importation of exotic milking cows and hybrid chickens into the country by Germans, Dutch and later Americans, the need to provide health and nutritional products led to creating Animal Health division and then the Feed division. The first mill of 5MT/hr was installed at Ikeja in 1963, followed by Aba 1964 and Kaduna in 1965 with 4MT and 3.5MT per hour capacity respectively. Accelerated growth in urban and sub-urban population and demand for poultry meat and egg impacted positively on the feed business leading to phenomenal growth in Livestock Feeds business nationally. The impressive performance propelled upgrade of the milling output to 10MT/hr automatic machines at Ikeja, Aba and then Benin between 1983 and 1985. Kaduna was given a 6MT\hr back-up mill. The era of boom also witnessed the establishment of Franchise business marketing system. With installed capacity of 40MT\hr single shift and network of 12 franchise millers, Livestock Feeds was the dominant brand and benchmark in the industry. At peak of business the company had 55% of the market share. Later, First Capital Trust Limited was engaged as Turnaround Managers in 2005 as First Capital Trust Limited replaced Ad set as the Core investor in the newly invigorated company. Also Cashcraft Asset Management became the second largest shareholder.