Cavista Holdings Acquires Matna Foods To Strengthen Cassava Value Chain

Cavista Holdings has acquired Matna Foods Company Limited through its agribusiness subsidiary, Agbeyewa Industries Limited, in a move aimed at strengthening Nigeria’s cassava value chain and expanding local processing capacity.

The company said in a statement that the acquisition is expected to address long-standing gaps in the cassava sector, particularly weak integration between farming and industrial processing, which has contributed to inefficiencies, post-harvest losses and limited value for farmers.

Chairman of Cavista Holdings, Niyi John Olajide, said the acquisition aligns with the company’s long-term investment strategy.

“Cavista has a strong history of identifying under-utilised or distressed assets and repositioning them for sustainable growth,” Olajide said. “Our investment in Matna Foods follows this same discipline—strengthening capacity, improving efficiency, and creating jobs while supporting food security and industrial development.”

The investment is also expected to increase cassava offtake from farmers, provide more predictable demand and support rural livelihoods, particularly for smallholder and out-grower farmers in the South-West.

Cavista Holdings said Matna Foods remains fully operational and open for business, with plans to scale up capacity, modernise operations where necessary and deepen engagement with farmers, suppliers and industrial customers.

Agbeyewa Industries operates Nigeria’s largest cassava farm and runs an in-grower and out-grower scheme that integrates thousands of farmers into a structured supply network. Matna Foods, which has operated for over 20 years, brings experience in processing cassava starch to international standards for food and industrial applications.