We present a ternary free-energy lattice Boltzmann model. The distinguishing feature of our model is that we are able to analytically derive and independently vary all fluid-fluid surface tensions and the solid surface contact angles. We carry out a number of benchmark tests: (i) double emulsions and liquid lenses to validate the surface tensions, (ii) ternary fluids in contact with a square well to compare the contact angles against analytical predictions, and (iii) ternary phase separation to verify that the multicomponent fluid dynamics is accurately captured. Additionally we also describe how the model presented here can be extended to include an arbitrary number of fluid components.