*…pledges N45bn support to deepen market reach
By Esther Onyegbula
Golden Penny Foods Limited has reaffirmed its commitment to strengthening its nationwide distribution network, announcing plans to invest about N45 billion in 2026 to support dealers and expand product availability across Nigeria, as the company honoured outstanding distributors at its annual dealers’ awards ceremony.
The event, themed “Reset, Rebound and Win Big,” brought together distributors, business partners and stakeholders from across the country to celebrate exceptional performance, review business strategies and chart a course for future growth.
Speaking at the event, the Managing Director of Golden Penny Foods Limited, Mr. Devlin Hainsworth, described dealers as the backbone of the company’s success, noting that the Golden Penny brand’s presence in millions of Nigerian homes would not have been possible without their dedication.
According to him, the annual gathering serves as a platform to appreciate distributors who work tirelessly to ensure the company’s products reach consumers nationwide.
“The reason for this platform and why it is important is that if you go the length and breadth of Nigeria, in most households there is a Golden Penny brand. The brand has its appeal, but we couldn’t be doing that without the partnership of our dealers because our dealers work day and night to carry our products,” Hainsworth said.
He added: “We call on some outlets directly, but even when we do that, we do it with our dealers. So this partnership goes very, very deep. We’ve been in existence for about 65 years and many of our dealers have been with us for the duration.
“So it’s a special relationship and we don’t take it lightly. Every year it is important for us to show that appreciation, deepen the relationship a bit more, and reward and recognise all of the great things they do.”
Explaining the significance of the theme, Hainsworth said the company was positioning itself for stronger growth despite economic headwinds experienced in the past year.
“Over the years we’ve been growing. There’s no doubt about it. We meet something like 38 million meal occasions on a daily basis with all of our brands in the basket.
“Last year wasn’t the easiest of years. Consumers were somewhat challenged. A number of our brands did very well, especially Golden Penny Pasta and Semo. Some other brands, because people didn’t have so much money in their pockets, struggled a little bit.
“So we want to come back bigger and better than ever before. It’s all about doing the fundamentals really well. Together with our dealers, we’re going to continue to bring Golden Penny to everybody. We’re going to rebound and win big together with our partners.”
The Managing Director also described the awards as the company’s equivalent of an Oscar ceremony, designed to motivate distributors to strive for greater performance.
“A few of us met yesterday. This is a two-way street. We shared ideas and got very good suggestions on things we can do differently, better, more of, and less of. So there’s the listening part, but there’s also the motivation part of it.
“In many ways, this is our Oscar ceremony for our Golden Penny dealers. When people go up on stage for the big awards, the atmosphere is electric,” he said.
Also speaking, George Coumantaros, Commercial Leader, Rising Star, said Flour Mills of Nigeria’s long-standing family heritage remains central to its relationship with dealers and employees.
“FMN is a family business. FMN began 65 years ago with my grandfather and it has been a family business since then.
“That family extends to our employees. It extends very much to our dealers and our customers. So it’s an important platform for us all to come together,” he said.
Coumantaros stressed that many of the company’s dealers have maintained relationships spanning generations, making collaboration and engagement critical to future growth.
“This business was begun by our parents and grandparents. That goes for ownership, our dealers and many employees as well. So it’s an important forum for us to come together, break ground, share stories, learn, laugh a little and improve.”
Highlighting the importance of rewarding dealers, he said: “The dealers are an extension of this company. The company is not where it is today without our dealers.
“It is very important that we keep those bonds close. We are in constant communication with them and we have events like this to strengthen those bonds. Hopefully, we can take what we’ve built over the past couple of years and increase it by the power of 10 in the coming years.”
New pasta unveiled
A major highlight of the event was the unveiling of Golden Penny Pasta Penne, a new short-pasta variant designed to broaden consumer options in the fast-moving consumer goods market.
Speaking on the new product, the Director of Marketing, Food, Golden Penny Foods, Mr. Ilyas Kazeem, said innovation remains central to the company’s commitment to nourishing Nigerian families.
“At Golden Penny, we are the leading brand in the food industry. We’ve been here for almost six decades and we care about our customers, serving happiness and nourishing families.
“One of the promises we make every day to our customers is to provide the very best nutrition and products. Today, we are introducing a new variant in our Golden Penny pasta category, which is the Penne Pasta.
“It is a form of short pasta that is distinct and also a way to expand serving options for consumers,” Kazeem said.
He noted that the company would continue introducing innovative products tailored to changing consumer preferences.
“Our major promise is to nourish families and bring happiness to every Nigerian. We are bringing new innovative products to every Nigerian and that is our promise.
“The key is to always stay true to who we are, keep understanding consumers, respect the trade and continue bringing the very best products to the market.”
Similarly, the Associate Director, Core Categories, Golden Penny Foods, Foluke Makinde, said the new Penne Pasta would enhance accessibility and provide consumers with more meal choices.
“For us, Golden Penny Pasta Penne is an opportunity for consumers to have access to a unique pasta product. One of its benefits is that it adds variety and versatility.
“The three things we sell to consumers are availability, accessibility and affordability. The Golden Penny brand is over 60 years old and is built on quality and strong brand equity.
“For the Golden Penny brand, there is one thing we will never joke about and that is quality. That is what has sustained this brand for over 60 years and we will continue to uphold it,” she said.
In his remarks, the Sales Director, B2C, Golden Penny Foods, Mr. Ademola Adeoye, disclosed that the company has consistently invested in strengthening its distribution network and would commit about N45 billion this year to support dealers and improve market penetration.
“We’ve been around the block for 65 years, 66 precisely this year, and at the heart of everything we do are our dealers.
“Turbulent years, tough years, good financial years, we bring our dealers together across all the local governments where we operate. We break bread, review business performance, reward outstanding performance and reset the course for the new year.”
Adeoye explained that as economic reforms continue to reshape the business environment, regular engagement with distributors remains critical.
“We work with our distributors, reward them and appreciate them because at the end of the day they are the heart and soul of the business.
“They are the customer-facing unit of the business. They are the ambassadors in the field and they project the good image of our brand to consumers across the country.”
On dealer support initiatives, he said: “Over the years we’ve invested heavily behind supporting our distributors and getting to the last mile. We have almost 2,000 secondary sales points across Nigeria attached to our distributors.
“This year, we’re investing close to about N45 billion behind redistribution infrastructure for our dealers, helping them move products from warehouses to wholesale and retail channels. We are also supporting them with incentive schemes and working capital because the cost of doing business is high these days.
“Behind all of this is the need for us to share common targets, common goals and common strategies. The investment is something we do not take for granted. Well over N45 billion is being invested this year for them to reach more people, sell more and run profitable businesses representing Flour Mills of Nigeria.”
Awardees
Among the award recipients was Hajia Khadijat Amoo, Chief Executive Officer of KAY JAY ZENITH LIMITED, who emerged No. 3 Top Core Category Dealer and No. 2 Rising Star Category Winner at the Golden Penny B2C Dealers Awards 2026.
Expressing her excitement, she described the recognition as a significant milestone.
“It’s a big deal for me. I’m proud to be a key distributor of Flour Mills. To be honest with you, being here today is something everyone wants to participate in.
“It’s been a very good business. We’ve been with the number one food company in Nigeria and I’m proud to be a part of it,” she said.
Speaking on the impact of the partnership on her business growth, Amoo added: “It’s been a mutually beneficial partnership. They’ve been very supportive and from our own end we’ve also put in so much effort to ensure we are able to distribute food products across Nigeria.”
The event underscored Golden Penny’s strategy of leveraging strong dealer relationships, product innovation and significant investments in distribution infrastructure to consolidate its leadership position in Nigeria’s food industry while driving growth across its nationwide network.
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