The Dutch dairy giant revealed late last week that it had acquired 127m ordinary shares in FrieslandCampina WAMCO at 315.67 Nigerian Naira (€1.41) a share.
Its interest in its Lagos-based FrieslandCampina WAMCO now stands at 67.61% - up from 54.58%.
FrieslandCampina, which is owned by dairy farmers in the Netherlands, Germany and Belgium, said share purchase demonstrates its commitment to Nigeria.
“The size of the market, the growth outlook and the commitment of the Nigerian people to bolstering the stability and economy of the country are the reasons why FrieslandCampina will continue to invest in its subsidiary FrieslandCampina WAMCO,” said Roelof Joosten, CEO, FrieslandCampina.
FrieslandCampina WAMCO Nigeria - a "key player" in Nigeria since 1954 - produces, packages, markets and distributes a wide variety of dairy products, including milk powder, infant formula and evaporated milk, under its Peak, Three Crowns and Friso brands.