Olam International said on Thursday it has acquired Alabama’s biggest peanut sheller, Brooks Peanut Co (Brooks), for an enterprise value of $85 million.
Olam’s purchase of Brooks, which follows its acquisition of U.S.-based peanut sheller McCleskey Mills Inc. in December 2014, further integrates direct farm procurement and shelling for the Singapore-listed firm.
Olam, which counts Singapore state investor Temasek Holdings and Japan’s Mitsubishi Corp as its largest shareholders, is a leading player in a number of commodities including cocoa, coffee and edible nuts.
By Saeed Azhar
Upon FoodBev Media’s return from Vitafoods 2022 – which took place from 10-12 May in Geneva, Switzerland – the team reflects on the event’s aim to bring together international nutraceutical suppliers and experts from across the globe.
Following a strategic review last year, Mondelēz International is planning to sell its developed chewing gum business, which includes brands Trident and Dentyne. This is in addition to offloading its Halls cough drop brand, as the food giant focuses on generating 90% of revenue in its chocolates and biscuits businesses, including baked snacks.
Givaudan has unveiled NaNino+, a patent-pending combination of plant-based ingredients and natural flavorings that can replace nitrite in processed meat. Designed with natural ingredients, it provides a lasting multi-sensorial food experience with a good taste, color and freshness.