Olam acquires control of the biggest cocoa processing of Indonesia

The multinational agribusiness Olam International, headquartered in Singapore, announced that bought control of the cocoa processing company of Indonesia, BT Cocoa, for $ $90 million, in a move to advance in the Asian market, which leads the growth world consumption of almonds. The Olam have 85% stake in the company, while the remaining 15% will remain with the founder of BT Cocoa, businessman Piter Jasman and your family. BT Cocoa factory has the capacity to process 150,000 tons of cocoa a year. As the Olam not bought all of the shares of Indonesian company, incorporates the business your multi cocoa processing capacity of 120,000 tonnes per year of production of 30000 tons of cocoa mass. The transaction will strengthen the Huysman, mark of Olam cocoa powder thrown last year in Asia, and complement the offer's premium cocoa deZaan brand. "We are excited about the opportunity to quickly expand our footprint in Asia and in developing this business with the founder and the family of BT Cocoa.", said Gerard a. Manley, CEO of Olam Cocoa, in a note. The Olam already have cocoa processing units in Indonesia since 1996 and heads the country's almond exports. The company has a supply chain in the country with 65000 producers and also holds one of the largest cocoa growers of Indonesia. The increased presence of Olam in the country is strategic to meet the prospect of growing demand in Asia. According to the company, the Asian demand for cocoa powder is growing 8.2% per year. The industrial products such as sweet biscuits and cookies, are the ones who pull the growth in demand for chocolate in the region, where 40% of account for new product developments. Source: Value