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Agribusiness

Staff Reporter

, Singapore

Published:

2 years ago

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Olam Food International logo. Photo from OFI's official website.

Brewing soon: Olam subsidiary to acquire Canada’s Club Coffee

The transaction is expected to finish in the second quarter of 2022.

Olam Group subsidiary, sustainable food supplier Olam Food Ingredients (OFI) aims to acquire Canadian coffee roaster Club Coffee L.P. for $161.6m ($CA 150m) as a part of its North America expansion.

OFI’s transaction to acquire the coffee business is expected to be finished in the second quarter of 2022, under regulatory approval.

"Both companies share a focus on high quality sustainable products and have proven capabilities in contract manufacturing and in the high growth private label channel. Increasing our range of private label solutions is right at the heart of ofi’s growth strategy," said ofi MD & CEO Coffee Vivek Verma in a bourse disclosure.

$1 = $CA 0.93

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Olam International

OFI acquires Club Coffee

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