31 Jan '11, 10pm

TODAYonline | Business | Olam to buy two UK firms for $68.2m via @AddThis

SINGAPORE - Singapore-listed commodity giant Olam International plans to acquire two British firms for a total of £33.5 million ($68.2 million). The firm said it would acquire a 100-per-cent stake in Britannia Storage & Distribution (BSD), a logistics service provider to the confectionery fats industry in the United Kingdom. Olam would also initially acquire 85 per cent of Britannia Food Ingredients Holdings (BFI), a supplier of speciality fats to the confectionery and snacks food industries in the UK. It would then acquire the remaining 15 per cent interest in BFI within the next three years at a pre-agreed valuation. Olam said the acquisition of BFI was in line with its global cocoa strategy, aimed at integrating its supply chain into value-added midstream processing. Mr Gerry Manley, managing director and global head for cocoa at Olam, said: "BFI's ability to process na...

Full article: http://www.todayonline.com/Business/EDC110201-0000198/Ola...

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