Olam Sells 25% Stake in its Packaged Foods Business to Sanyo Foods
03 Feb 2015 --- Olam International Limited a leading agri-business operating across the value chain in 65 countries, has announced that it has completed the sale of a 25% stake in Olam’s Packaged Foods business to Sanyo Foods Co.
The Company has received cash proceeds of US$167.5m and has added US$79.6m to its capital reserves.
Following the completion of the sale, Olam owns 75% of Caraway Pte Ltd, the holding company for all of the Company’s Packaged Foods businesses with the balance 25.0% owned by Sanyo Foods.
Olam is a leading agri-business operating across the value chain in 65 countries, supplying various products across 16 platforms to over 13,800 customers worldwide. From a direct sourcing and processing presence in most major producing countries, Olam has built a global leadership position in many of its businesses.
Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 50 largest listed companies in Singapore in terms of market capitalisation and is a component stock in the Straits Times Index (STI), S&P Agribusiness Index and the DAXglobal Agribusiness Index.
Olam is the only Singapore firm to be named in the 2009, 2010 and 2012 Forbes Asia Fabulous 50, an annual list of 50 big-cap and most profitable firms in the region. It is also the first and only Singapore company to be named in the 2009 lists for the Global Top Companies for Leaders and the Top Companies for Leaders in the Asia Pacific region by Hewitt Associates, the RBL Group and Fortune.
