Olam International has sold its Cote d’Ivoire dairy plant to FrieslandCampina in a US$18.7m deal.
The plant produces sweetened condensed milk and evaporated milk for local consumers.
Go deeper with GlobalData
In addition, Olam has sold its trademark “Pearl” for US$6.3m, which FrieslandCampina will use for sweet condensed and evaporated milk products in certain countries across Africa.
Olam said in a statement the move is part of its restructuring plans of its dairy products portfolio to allow it to focus on “other upstream and midstream parts of its dairy business”.
Cees ‘t Hart, FrieslandCampina’s CEO, said: “We are pleased with this acquisition in Côte d’Ivoire. It enables us to further strengthen our position in west Africa.”
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
