07 March 2019 | News
The deal will add 120,000 tonnes of cocoa bean processing capacity and 30,000 tonnes of cocoa mass pressing capacity to serve increasing demand for cocoa products in Asia
Global food and agri-business Olam International Limited recently announced that it has acquired an 85% share of YTS Holdings Pte Limited for a consideration of USD$90 million which is 100% owner of PT. Bumitangerang Mesindotama (“BT Cocoa”). The remaining 15% of shares are to be held by the founding members of BT Cocoa, Piter Jasman and family.
The deal will add 120,000 tonnes of cocoa bean processing capacity and 30,000 tonnes of cocoa mass pressing capacity to serve increasing demand for cocoa products in Asia, especially cocoa powder.
It brings together a world leader (Olam Cocoa) in traceable cocoa sourcing and processing, with one of Asia’s leading cocoa processors (BT Cocoa).It also strengthens brand portfolio offering by adding strong Indonesian national brand BT Cocoa and enables the further development and growth of Olam Cocoa’s Huysman brand.
CEO of Olam Cocoa, Gerard A. Manley said,“We are excited to have the opportunity to rapidly expand our footprint in Asia and to develop this business with the founder and family of BT Cocoa. Our longstanding relationship will enable us to deliver world class cocoa ingredients and services to our expanded customer base and look to strengthen these relationships in the future in one of the fastest growing regions in the world.”