The global food Ingredients company Olam International Limited announced that its subsidiary Olam Americas, agreed to acquire the US-based chile pepper business (CPB) of major maker of condiments and sauces, Mizkan America, Inc. for $108.5 million.
- Olam Food Ingredients (OFI), the new operating group created after the reorganization within Olam International Limited (OIL), is expanding its Spices portfolio with this deal.
- The deal helps to meet the rising demand for bold, authentic flavors of premium green chiles, jalapeños and enchilada sauces.
- Based in Deming, New Mexico, CPB is renowned for its high-quality New Mexico green chiles as well as other specialty chile peppers.
The major partnerships and deals by Olam announced are featured below:
Dec 2020: Olam announced that Olam Coffee, part of Olam Food Ingredients (OFI) partners with international non-profit firm TechnoServe, as part of the Maximizing Opportunities in Coffee and Cacao in the Americas (MOCCA) Project, will deliver a comprehensive training programme to equip farmers with knowledge and skills to improve their productivity and incomes, with access to higher-value markets. Higher yields and quality standards will open up opportunities for farmers to secure premiums from certification and specialty markets, while lowering their production costs.
April 2020: Global food and agri-business Olam International Limited and its wholly owned subsidiary, Olam Treasury Pte. Ltd. (OTPL), have secured multi-tranche financing facilities (the Facilities) aggregating US$176.0 million from the International Finance Corporation (IFC) and Japan International Cooperation Agency (JICA).
March 2020: Olam partners with John Lewis Partnership to inspire next generation of Colombias coffee farmers. The project has been set up and jointly funded by Olam Coffee, in partnership with John Lewis Partnership, Bewleys Tea & Coffee, and coffee cooperative ASOPEP. The quality lab and education facilities will allow local growers to access training on organic and sustainable farming, good agricultural practices, new varieties and quality testing. Olams coffee specialists will also deliver advanced post-harvest processing workshops, to introduce farmers to the latest techniques for producing higher grades.
March 2020: Global food and agri-business Olam International (Olam) has entered into an agreement to sell its remaining 50.0% equity stake in Indonesian sugar joint-venture Far East Agri to its joint venture partner Mitr Phol Sugar Corporation for a total consideration between US$82.5 million and US$85.0 million (Transaction), subject to final adjustments as provided in the sale and purchase agreement. The consideration was arrived at on a willing buyer-willing seller basis.
About Olam International Limited
Olam International, headquartered in Singapore, is a global agriculture and food ingredients company. The group is re-organising into two operating groups Olam Food Ingredients and Olam Global Agri. The companys value chain spans over 60 countries, consist of farming, processing and distribution operations. The group supplies food, ingredients, feed and fibre to more than 19,800 customers worldwide.