Euro Global Foods and Distilleries Limited was recently ranked first among 50 fastest growing Nigerian companies at the Nigeria50 Awards organised by the All World Network and the Elumelu Foundation.
The award, which is the first of its kind in Africa, is aimed at spotlighting extra-ordinary Nigerian businesses led by Nigerian entrepreneurs and business leaders.
A statement made available to BusinessDay by the company, observes that with a record growth rate of 2,781 percent between 2009 and 2011 and revenue range of $1.5 million, Euro Global emerged tops out of the 50 companies that were short-listed for the inaugural awards by the organisers and their partner audit firm, Ernst & Young.
Speaking on the award, Dhamaranjan Eshwaran, Euro Global’s Managing Director,said “we are quite thrilled at being recognised by such institutions as the Elumelu Foundation and the All World Network for our contribution to the growth of the Nigerian economy.
This award will spur us to greater heights. At Euro Global, we work to make quality products available for consumers at affordable prices. We continually roll out products that give consumers value.”
The awards also saw Euro Global sister companies, Food Agro and Allied Industries Limited and Shongai Packaging Industry Limited, emerge the 9th and 39th positions respectively on the list of the 50 fastest growing companies. Food Agro had a growth rate of 655 percent, while Shongai Packaging had a 52 pecent growth rate within the same period.
The Tony Elumelu Foundation, which is the Nigerian partner for the All World Network, is an African funded philanthropic organisation focused on promoting entrepreneurship in Africa by enhancing the competitiveness of the private sector.