United Biscuits (UBUK), a UK-based manufacturer of biscuits and cakes, has acquired a stake in A & P Foods, a Nigeria-based biscuits manufacturer, for an undisclosed sum.
The investment is in line with the company's overseas expansion plans and will make up around 20% of group revenues.
In Nigeria, UB has to date either exported its products from the UK or manufactured under a license in the regional market.
UB International CEO Jeff van der Eems said that the Nigerian market has strong potential for UB.
Eems added, "Our McVitie's brand is already well established and enjoyed by people throughout Nigeria and Africa.
"We are delighted to be working with A & P Foods and believe that this investment led by the A & P founder, Sameer Vaswani, will give us a great platform for further growth in this thriving market."
Vaswani said, "A combination of our regional knowledge and a global biscuit brand such as McVitie's puts the company in a position where it can grow strongly in the local market."