Sector News

Olam acquires Brooks for $85 million

June 9, 2016
Food & Drink

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

Source: Reuters

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