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Olam adds East African coffee specialist to business brew with $10.4 mil acquisition

Michelle Zhu Published on Mon, Oct 24, 2016 / 6:32 PM GMT+8

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SINGAPORE (Oct 24): Agri-business Olam International has acquired a 100% stake in Schulter S.A., an East African coffee specialist, for US$7.5 million ($10.44 million).

The acquisition is funded by a combination of internal accruals and existing debt facilities, says Olam in a Monday announcement.

Upon completion of the deal, Schluter will become the speciality arm of Olam Coffee in Europe.