SINGAPORE (Feb 26): Olam International, the global food and agri-business, is acquiring Indonesia’s largest cocoa processor, BT Cocoa.
Olam has acquired an 85% share of YTS Holdings for a consideration of US$90 million (S$121.4 million). YTS is the 100% owner of PT Bumitangerang Mesindotama (BT Cocoa).
The remaining 15% of shares are to be held by the founding members of BT Cocoa, Piter Jasman and family.
The acquisition will add 120,000 metric tonnes of cocoa bean processing capacity and 30,000 metric tonnes of cocoa mass pressing capacity to Olam Cocoa, which is seeing increasing demand for cocoa products in Asia, especially...(click on link for full story on theedgesingapore.com)