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Olam: Announces Acquisition Of Indonesia's Largest Cocoa Processor, PT. Bumitangerang Mesindotama, To Capitalise On Asia's Trajectory To Become The Largest Global Consumer Of Cocoa Powder.

27 Feb 2019 10:43

Olam International Limited has acquired an 85% share of YTS Holdings Pte Limited for a consideration of USD$90 million which is 100% owner of PT. Bumitangerang Mesindotama. The remaining 15% of shares are to be held by the founding members of PT. Bumitangerang Mesindotama, Piter Jasman and family. Adds 120,000 metric tonnes of cocoa bean processing capacity and 30,000 metric tonnes of cocoa mass pressing capacity to serve increasing demand for cocoa products in Asia, especially cocoa powder. Brings together a world leader in traceable cocoa sourcing and processing, with one of Asia's leading cocoa processors. Strengthens brand portfolio offering by adding strong Indonesian national brand PT. Bumitangerang Mesindotama and enables the further development and growth of Olam Cocoa's Huysman brand. The significant synergies derived and a competitive cost advantage will add further value...

Attachments:

• 26Feb2019_YTS_NewsRelease.pdf

Source: ShareInvestor Express