Olam eyes more innovation investments, capacity expansion with acquisition of US chilli pepper business

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.