Olam to Acquire Britannia Food Ingredients

Olam will initially acquire 85% of equity capital in BFI and 100% of BSD, and then acquire the remaining 15% interest in BFI within the next three years at a pre-agreed valuation.

2/1/2011 --- Olam International Limited, a leading global, integrated supply chain manager and processor of agricultural products and food ingredients, announced that it plans to acquire 100% of equity interests in Britannia Food Ingredients Holdings Limited (“BFI”) and Britannia Storage and Distribution Limited (“BSD”) for a combined enterprise value of £33.5 million (approximately US$50 million).

Olam will initially acquire 85% of equity capital in BFI and 100% of BSD, and then acquire the remaining 15% interest in BFI within the next three years at a pre-agreed valuation.