Olam peeling away property assets of US onion and garlic processing plant

Singapore

OLAM International is selling the real estate assets of its onion and garlic processing facility in California to Chicago-based investment management firm Mesirow Financial for some US$110.3 million, as part of its six-year strategic plan.

The mainboard-listed food and agri-business has also entered into a tiered revenue sharing arrangement with Mesirow, with whom it will share a part of the annual revenue from operating the assets for a period of 25 years.