John Holt plc is a Nigerian conglomerate that participates in many areas of the economy. The Nigerian company is a subsidiary of John Holt & Co. (Liverpool) Ltd, a British company. A minority of the shares are traded on the Nigerian Stock Exchange.
History
Origins
The company traces its origins to 1862 when John Holt, 20 years old at the time, with £27 in his pocket, sailed from Liverpool to take up an appointment as a shop assistant in a grocery store in Fernando Po (now part of Equatorial Guinea). Five years later, he bought out his employer, and he was joined by his brother Jonathan. In 1868, Jonathan bought a schooner, which enabled the brothers to open more trading posts in West Africa. In 1874 the brothers opened an office in Liverpool. In 1881, John entered the palm oil trade.
In 1884, the brothers formed a partnership, John Holt and Company, to consolidate their business interests. Subsequently, John entered into new partnerships, including a venture in Lagos in Nigeria in 1887.[1]