Olam chomps on ADM’s cocoa beans

Temasek-backed commodities company Olam buys Archer Daniel Midland's cocoa business for $1.3 billion in its biggest acquisition ever.

Olam chomps on ADM’s cocoa beans

Singapore-listed commodities company Olam International struck a deal on Tuesday to buy US grains giant Archer Daniel Midland’s cocoa business at an enterprise value of $1.3 billion, in its largest acquisition to date.

The acquisition of ADM will propel Olam into the ranks of the top-three bean processors in the world, alongside Cargill and Barry Callebaut, but the upshot is that the company will not meet previous targets to turn cash flow positive...

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