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Olam to acquire US chile pepper business for US$108.5m in expansion of spices portfolio

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AGRI-FOOD giant Olam International's food ingredients unit, Olam Food Ingredients (OFI), is set to acquire US-based chile pepper business (CPB) of Mizkan America - a maker of condiments and sauces - for a price tag of US$108.5 million. Read more at The Business Times.

A Shekhar, chief executive officer of OFI, said CPB provides grocery and retail channels that offer increasing co-manufacturing opportunities in Asia and the US for the group's other products. Apart from spices, OFI also consists of business segments such as cocoa, coffee, nuts and dairy.

Based in Deming, New Mexico, Olam said the CPB is known for its high-quality New Mexico green chiles, as well as other speciality chile peppers. These are also highly sought after by CPB's manufacturing, retail, private label and food service customers. Greg Estep, CEO of Olam Spices, said that CPB has been leading the chile pepper business in the US for nearly 50 years.

 

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