- ofi completes acquisition of Olde Thompson at an Enterprise Value (EV) of US$950 million
- Transformative US acquisition for ofi’s spices business, enabling further expansion of private label offerings across its portfolio
- Accelerates ofi's growth strategy of delivering sustainable, natural, value-added food ingredients and solutions
olam food ingredients (“ofi”) is pleased to announce that the acquisition of leading US private label spices and seasonings manufacturer Olde Thompson, previously announced on April 29, 2021, was successfully completed on May 17, 2021 at an EV of US$950 million.
The acquisition builds on a 15-year partnership with Olde Thompson and marks a significant milestone for ofi’s spices business, which is an attractive and growing part of ofi’s overall portfolio. It also expands ofi's private label capabilities and enables the business to provide consumers with a comprehensive range of bold, authentic, natural taste and flavours with end-to-end traceability and sustainability.