Olam Food Ingredients Acquires US Chile Pepper Business
Acquisition is on-trend to support rising consumer demand for Mexican flavors
Olam Food Ingredients, the new operating group created after the reorganization within Olam International Limited earlier this year, is expanding its Spices portfolio to meet the rising demand for bold, authentic flavors with the acquisition of one of the world’s leading suppliers of premium green chiles, jalapeños and enchilada sauces.
OIL, through its subsidiary, Olam Americas, Inc. has agreed to acquire the US-based chile pepper business (“CPB”) of major maker of condiments and sauces, Mizkan America, Inc. (“Mizkan”), for $108.5 million. This is the first major acquisition for OFI after the reorganization and is in line with its strategy to provide customers with on-trend food products and sustainable, natural, value-added ingredients and solutions.