Olam acquires 50% ownership in Acacia Investments
Total consideration for the acquisition was US$35 million.
Olam International Limited announced that it has acquired 50% of shares and voting rights in Acacia Investments. AI is a business group based in the United Arab Emirates with a significant presence in edible oil refining and distribution in East Africa.
Ranveer Chauhan, Olam’s Managing Director and Global Head of Palm, said the two firms share the same ambition of building a leading market position in palm oil refining and distribution in the region.