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› Olam International strikes 'transformational' deal to acquire ADM's global cocoa business for $1.3bn
Olam International strikes 'transformational' deal to acquire ADM's global cocoa business for $1.3bn
2014-12-17 01:44:43| Food - Topix.net
ADM chairman and CEO Patricia Woertz said the deal would allow ADM to "redeploy capital to investments that offer improved returns potential and less volatility than the cocoa business, or distribute excess capital to shareholders, or a combination of both". Olam - a leading supplier of cocoa beans with a significant presence in all major cocoa growing regions except Brazil, processing facilities in Cote d'Ivoire and Nigeria, and value-added processing facilities in Spain and the UK - said the deal would catapult it into third place in the global cocoa business behind Barry Callebaut and Cargill, and create significant synergies.
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