Global food and agri-business Olam International Limited announced that it has acquired an 85 percent share of YTS Holdings Pte Limited for a consideration of USD $90 million, which is 100 percent 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
This adds 120,000 metric tonnes of cocoa bean processing capacity and 30,000 metric tonnes of cocoa mass pressing capacity to serve increasing demand for cocoa products in Asia, especially cocoa powder. It also brings together a world leader (Olam Cocoa) in traceable cocoa sourcing and processing, with one of Asia’s leading cocoa processors (BT Cocoa). The acquisition 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. The significant synergies derived and a competitive cost advantage will add further value.