Olam buys 85% stake in Indonesia's largest cocoa processor for $121.31m

The acquisition will add 150,000 metric tonnes of cocoa bean processing and capacity.

Olam International has acquired Indonesia’s largest cocoa processor PT. Bumitangerang Mesindotama (BT Cocoa) for approximately $121.31m (US$90m), an announcement revealed.

The firm acquired an 85% share of YTS Holdings Pte Limited which is 100% owner of BT Cocoa, whilst the remaining 15% of shares will be held by the founding members of BT Cocoa, Piter Jasman and family.

Also read: Olam International to shut its sugar trade desk

The acquisition reportedly satisfies increasing customer demand for full integration within the cocoa supply chain by bringing together Olam Cocoa and BT Cocoa, which supplies size and scale in Indonesian cocoa processing with a total installed cocoa bean grind and cocoa mass capacity of 150,000 metric tonnes and a facility equipped with the latest processing technology.

Olam Cocoa owns one of the largest cocoa plantations in Indonesia, located on Seram Island and employs 65,500 Indonesian cocoa farmers across 6 provinces.