Olam eyes more innovation investments, capacity expansion with acquisition of US chilli pepper business
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Uma Devi
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THE acquisition of a US-based chilli pepper business (CPB) will give Olam International "new products and new customers", said Olam International's executive director A Shekhar, benefiting both acquirer and acquiree in terms of enhanced customer reach and product offerings.
"With the combination of teams, we will become a very important player in New Mexico," he said. "Through the combination of two plants and two agricultural teams, we will also become a significant player for growers and create more speciality crops that we can help them grow."
On Monday, Olam announced that it would pay US$108.5 million for the green chilli pepper business of condiments and sauces company Mizkan America.
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