Honeywell Flour Mills
About Company
Overview of Honeywell Flour Mills Plc
Honeywell Flour Mills Plc (HFMP) is one of Nigeria’s prominent food manufacturing companies, specializing in the production and marketing of wheat-based consumer products. Established as a key player in the fast-moving consumer goods (FMCG) sector, it focuses on staple foods essential to Nigerian households, such as flour, semolina, noodles, and pasta. The company is headquartered in Lagos, Nigeria, and operates as a subsidiary of the larger Flour Mills of Nigeria Plc (FMN) group, which enhances its reach through shared logistics, innovation, and distribution networks. As of December 2025, HFMP remains ISO-certified, emphasizing quality and efficiency in a regulated industry.
History and Milestones
HFMP traces its roots back to 1983, when it was initially registered as Gateway Honeywell Flour Mills Limited on June 21, 1985, as part of the Honeywell Group’s diversification into food processing.
The Honeywell Group, a Nigerian conglomerate founded by Dr. Oba Otudeko, started with commodity trading in items like baking yeast and stockfish before venturing into milling.
A significant ownership change in June 1995 led to its rebranding as Honeywell Flour Mills Limited.The company went public in 2008 with an initial public offering (IPO) and listed its shares on the Nigerian Exchange Limited (NGX, formerly Nigerian Stock Exchange) in 2009 under the ticker HONYFL.
As part of its vertical integration strategy, HFMP acquired 100% of Honeywell Superfine Foods Limited in 2008, bolstering its pasta and noodles production.A pivotal shift occurred in 2022 when FMN acquired a 71.69% stake from the Honeywell Group for strategic expansion, followed by an additional 5.06% minority stake from First Bank of Nigeria Ltd.
This made HFMP an integrated part of FMN, aiming to create a “resilient national champion” in Nigeria’s foods industry, with a focus on job creation, food security, and agricultural value chain development.
In mid-December 2024, FMN relaunched the Honeywell brand with upgraded product quality, new packaging, and marketing campaigns to reconnect with consumers.
Products and Operations
HFMP’s product lineup centers on wheat-based staples, catering to everyday Nigerian diets. Its seven major brands include:
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Product
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Description
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Honeywell Superfine Flour
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Premium baking flour for bread and pastries.
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Honeywell Wheat Meal
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Whole wheat meal for healthier options.
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Honeywell Semolina
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Used for traditional dishes like eba or couscous.
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Honeywell Noodles
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Instant noodles for quick meals.
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Honeywell Pasta
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Includes macaroni and spaghetti.
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Honeywell Composite Flour
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Blended flour for versatile baking.
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Honeywell Brown Flour
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Nutrient-rich brown flour variant.
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The company operates manufacturing facilities in key locations, including Apapa (Lagos) for flour, semolina, and wheat meal, and Sagamu (Ogun State) for noodles and pasta.
It also leverages free trade zones for exports and specialized production, ensuring wide distribution across Nigeria via an extensive retail network.
With around 417 employees as of recent reports, HFMP emphasizes supply chain management, sales, and human resources to maintain its market position.
Financial Performance and Stock Information
Listed on the NGX, HFMP has shown robust growth. As of December 2, 2025, its stock price stood at NGN 18.30, reflecting a 0.27% daily increase and a remarkable 311.24% rise over the past year.
The market capitalization is approximately NGN 145.1 billion, with a 52-week range of NGN 4.45 to NGN 29.85 and annual liquidity of NGN 15.2 billion.
In its latest annual general meeting (March 2023), the company reported a 23% revenue increase year-over-year, driven by strong demand and operational efficiencies.
Under FMN’s umbrella, HFMP benefits from synergies that support backward integration in agriculture, enhancing long-term sustainability amid Nigeria’s economic challenges like inflation and supply chain disruptions.
Current Status and Future Outlook
Now fully integrated into FMN (headquartered at Golden Penny Place, 311 Apapa Road, Ijora, Lagos), HFMP continues to prioritize innovation, such as improved product formulations and digital marketing to boost consumer engagement.
The company’s mission remains to deliver high-quality, nourishing foods while contributing to national food security and employment.
Key executives include Nino Albert Ozara as Executive Director and Manufacturing Director, with Nassib Raffoul noted as a principal contact.
For more details, visit the official website at honeywellflour.com or check NGX listings for real-time updates. If you’re interested in investing or partnering, FMN’s strategic focus on agro-allied growth positions HFMP for continued expansion in West Africa’s burgeoning food sector.