The global food and agribusiness Olam International Ltd has announced that it has acquired an 85 % share of YTS Holdings Pte Ltd for a consideration of USD 90 m, which is 100 % owner of BT Cocoa. The remaining 15% of shares are to be held by the founding members of BT Cocoa, Piter Jasman and family.

With the acquisition, Olam Cocoa 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. “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,” explains Gerard A. Manley, CEO of Olam Cocoa.

The transaction brings together Olam Cocoa, one of the world leaders in traceable cocoa sourcing and processing, with one of Asia’s leading cocoa processors. It strengthens the 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.