Golden Penny honours dealers, unveils new pasta variant
Golden Penny Foods Commits N45 Billion to Expand Distribution Network
By Esther Onyegbula
LAGOS—Golden Penny Foods Limited has announced an investment of approximately N45 billion in 2026 to enhance its distribution network and support dealers across Nigeria. The announcement was made during the company’s annual dealers’ awards ceremony, where outstanding distributors were recognized for their performance.
The event, themed “Reset, Rebound and Win Big,” gathered distributors, business partners, and stakeholders to acknowledge exemplary contributions and outline future business strategies.
Managing Director Devlin Hainsworth emphasized the critical role of dealers in the company’s success. He noted that the widespread presence of the Golden Penny brand in Nigerian households is largely due to the dedication of its dealers.
“This annual gathering allows us to express our gratitude toward distributors who ensure our products reach consumers nationwide,” Hainsworth said. “Our dealers are vital, and this partnership has deep roots, with many lasting over 65 years.”
He added that overcoming economic challenges from the previous year has led the company to focus on strengthening its growth strategies moving forward. Hainsworth noted that while certain products like Golden Penny Pasta performed well, others faced difficulties amid consumer spending constraints.
Moreover, Hainsworth referred to the awards as the company’s version of the Oscars, aimed at inspiring distributors to excel.
“It’s a two-way street; sharing ideas and motivation is essential,” he said, highlighting the positive atmosphere during the awards.
George Coumantaros, commercial leader of Rising Star, reinforced the familial heritage of Flour Mills of Nigeria and its significance in fostering strong relationships with dealers and employees.
“This is a family business that began 65 years ago, and that family extends to our dealers and customers,” Coumantaros said. He underscored the importance of maintaining generational connections among company stakeholders.
In addition to honoring its dealers, Golden Penny launched a new product: Golden Penny Pasta Penne, intended to diversify consumer options in the fast-moving consumer goods market.
Mr. Ilyas Kazeem, Director of Marketing for Golden Penny Foods, highlighted that innovation is fundamental to the company’s mission of nourishing Nigerian families. He expressed confidence in the new product’s potential to introduce more variety to consumers’ meal choices.
Kazeem stated, “Our commitment is to deliver top-notch nutrition, and Penne Pasta adds to our offerings while maintaining our quality standards. We will continue to innovate based on consumer preferences.”
Sales Director Ademola Adeoye asserted that the planned N45 billion investment will fortify the company’s distribution network. He emphasized the necessity of supporting dealers amid rising operational costs.
“We understand the economic reforms are challenging, and strong engagement with our distributors is critical. They represent our brand in the field and play a pivotal role in customer interactions,” Adeoye said.
The event celebrated several award recipients, including Hajia Khadijat Amoo, CEO of KAY JAY ZENITH LIMITED, who was recognized as a top dealer. Amoo characterized her win as a significant achievement within her partnership with Golden Penny, emphasizing the mutual benefits of their collaboration.
The ceremony highlighted Golden Penny’s strategy of leveraging robust dealer relationships, product innovation, and investment in distribution infrastructure to solidify its leadership in Nigeria’s food sector and foster growth across its network.
