Colgate-Palmolive company makers of Colgate and Tolaram Group Inc, the conglomerates behind several household brands in Nigeria have entered into a strategic joint venture to bring innovative oral, personal and home care products to consumers across Nigeria.
This statement was made public by the management of Tolaram Group, declaring that this partnership will not only strengthen Colgate presence in Nigeria as Africa’s largest economy but will equally continue to cement Tolaram Group’s position as one of the leading and most diversified consumer brand builders in Nigeria.
Colgate-Palmolive Company is a globally regarded consumer products leader especially in the production, distribution and provision of home and personal care product across different categories. The company has a strong customer loyalty as it has become one of the most recognizable lines of products in all 6 continents due to its accessibility, quality and innovation.
On the other hand, It is a general knowledge that Tolaram group has a track record of building brands from different categories right from the scratch into becoming market leaders and most beloved household names in Nigeria, such as; Indomie Instant Noodles, Power Oil, Minimie Noodles, Minimie ChinChin, Power Pasta, Hypo Bleach, Munch It, Lucky Fibres, Lush Hair and Goodlife Magik fruit drink - the newest brand addition, recently launched into the Nigerian beverage market.
It will also be recalled that Tolaram is equally into a joint venture with other global businesses such as Kellogg company and Arla Foods since 2015. Kellogg’s is the largest breakfast cereal brand in the U.S with a portfolio of 1,600 foods including Cornflakes, Coco Pops, Frosted Flakes etc, while Arla Foods remain one of the world’s largest Dairy companies, the owner of Dano Milk - another strong brand known for its quality standards in Nigeria. Since the partnership deal, both brands have since been enjoying a consistent spurt of growth in their respective categories across the country.
However, the latest joint venture consists of investments by Colgate in Tolaram’s market-leading HYPO bleach business, as well as Colgate’s world-leading oral care and home care brands. Operationally, the joint venture will leverage Tolaram’s significant local manufacturing presence, marketing expertise and distribution strength with Colgate’s product formulations and R & D capabilities.
Speaking on the partnership deal, John Hazlin, president Africa Eurasia for the Colgate-Palmolive Company said: “Colgate is proud to partner with Tolaram to increase its investment in Nigeria. We see many bright opportunities ahead for this new venture and for consumers in this vibrant and growing market”.
Also, from the other end, Deepak Singhal, CEO Consumer Division for Tolaram Group Inc. stated that this partnership with Colgate which marks Tolaram’s fourth Joint venture in Nigeria with global leaders and is a testament to the company’s commitment to continue delivering quality products to the Nigerian consumers.
“We are excited as we increase our investment in the oral care, home care and personal care categories with Colgate, a partner with which we can effectively combine market knowledge and product expertise,” he said.
The joint Venture business has been set up as a partnership of equals and will initially focus on aggressive marketing and promotion of the oral/dental care products - Colgate toothpaste and toothbrush as well as other Colgate Palmolive brands in the category of personal and home care- Palmolive soaps, cosmetic lines while the construction of a multi-million dollar facility for the production will be set up in due course.
The Colgate Tolaram Venture will rely on the deep understanding of the Nigerian consumer goods market, an extensive distribution network of Tolaram Group and the research & development technology, global production and sourcing capabilities of Colgate-Palmolive.