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Olam completes acquisition of ADM's cocoa business

Olam International (OLAM.SI) has completed the acquisition of the global cocoa business of Archer Daniels Midland Co. (ADM.N) in a deal valued at $1.2 billion, the companies said on Friday.

The deal, first announced in December last year, catapults the Singapore-based commodities firm into the top tier of global suppliers to the chocolate business.

It boosts Olam's processing capacity to about 700,000 tonnes, behind only Barry Callebaut (BARN.S) and Cargill Inc. with operations in major producing countries Ivory Coast, Nigeria, Ghana and Brazil as well as coming markets in Europe, the United States, Canada and Asia.

The combined entity will be looking to...


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