Olam International Limited has acquired an 85 per cent share of YTS Holdings Pte Limited, the owner of BT Cocoa.
The remaining 15 per cent of the shares are to be held by the founding members of BT Cocoa, Piter Jasman and family.
The deal adds 120,000 tonnes of cocoa processing capacity and 30,000 tonnes of cocoa mass pressing capacity to Olam’s overall capacity.
Olam Cocoa CEO Gerard Manley, said “We are excited to have the opportunity to rapidly expand our footprint in Asia and to develop this business with the founder and family of BT Cocoa.
“Our longstanding relationship will enable us to deliver world class cocoa ingredients and services to our expanded customer base and look to strengthen these relationships in the future in one of the fastest growing regions in the world.”
Olam said the acquisition “satisfies increasing customer demand for full integration in the cocoa supply chain.”
Olam Cocoa has been working closely with BT Cocoa for nearly three years through a collaborative agreement and has made significant financial and operational improvements, including helping BT Cocoa achieve a 30 per cent reduction in energy consumption.
BT Cocoa’s prominence as a supplier to leading chocolate and confectionery manufacturers in the region presents new market opportunities for Olam Cocoa’s ingredients portfolio.
Mr Jasman said, “The relationship with Olam Cocoa represents a powerful opportunity for BT Cocoa to significantly expand our market with enhancements to quality, safety and ethically responsible cocoa products. The past three years of collaboration has clearly demonstrated the potential for delivering better value. The combination of Olam Cocoa’s expertise as the leading global supplier and processor of sustainable cocoa, with BT Cocoa’s strong local network, will provide our customers with increasing benefits.”