• olam food ingredients (“ofi”) is on track for an IPO in H1 2022

• ofi intends to pursue a primary listing on the premium segment of the London Stock Exchange (“LSE”), and a concurrent listing on the Singapore Exchange (“SGX”)

• ofi delivered strong performance in the first six months of 2021, providing good momentum going into 2022

• ofi continues to accelerate its growth strategy and completed transformational acquisitions during the period  

Olam International Limited (“Olam”) today announces that its operating group, ofi, a global leader in natural and sustainable food ingredient solutions, intends to seek a primary listing on the premium segment of the London Stock Exchange. ofi will concurrently seek a listing in Singapore.

ofi was created in early 2020 following a re-organisation of Olam to unlock and maximise Olam’s long-term value, including an IPO and concurrent demerger by the first half of 2022.

ofi works with some of the world’s best-known food and beverage brands, food manufacturers, retailers, and food service outlets, as well as several niche and premium regional players. ofi has established market-leading positions across a range of on-trend, natural and plant-based products, delivering sustainable and innovative solutions to consumers across the world.

With deep-rooted presence in the countries where the raw materials for its cocoa, coffee, dairy, nuts, and spices ingredients are produced, ofi has built sustainability and traceability into its core business model, enabling better quality and more reliable and transparent supply. ofi has a unique global scale and presence across the value chain to deliver delicious and nutritious food ingredients and solutions in an environmentally sustainable way.

In 2020, ofi generated annual revenues of US$9.1 billion (S$12.5 billion) and EBIT of US$0.6 billion (S$0.8 billion). Olam’s 2021 Interim Results announced today demonstrate the strong and resilient performance for ofi in the first six months of the year, providing it with good momentum going into 2022. The release can be found in full here.

A. Shekhar, CEO of ofi, said:

“The decision to pursue a stock market listing is a major milestone for ofi and we are looking forward to presenting this exciting opportunity to investors globally through a proposed primary listing in London and a concurrent secondary listing in Singapore. The primary listing on the LSE will give us access to London’s large and diverse investor base, with its deep and liquid capital markets, and enable us to benefit from its strong understanding of and research coverage across the food and beverage sector. The concurrent listing in Singapore will also enable us to retain our strong local shareholder base and further tap into growing investor appetite in Asia.

“The results reported today show that ofi is a strong business uniquely positioned to take advantage of long-term consumer trends within the food and beverage industry. Our integrated global network, servicing large, attractive and growing end-use categories within an expanding on-trend ingredients portfolio, makes us a compelling investment for anyone looking to tap into growing global demand for food that is healthier, traceable and sustainable.”

About ofi

ofi is a new operating group born out of Olam. ofi offers sustainable, natural, value-added food and beverage ingredients and solutions so that consumers can enjoy the healthy and indulgent products they love. It consists of Olam’s industry-leading businesses of Cocoa, Coffee, Nuts, Spices and Dairy with operations across America, Africa, Europe and Asia, with a network of 15,000 employees, operational in 48 countries, sourcing directly and indirectly from approximately 2.6 million farmer suppliers globally and operating 100+ manufacturing plants.

ofi has built a unique global value chain presence including its own farms, farm-gate origination and manufacturing facilities. ofi partners with customers, leveraging its complementary and differentiated portfolio of “on-trend” food and beverage products, to co-create solutions that anticipate and meet changing consumer preferences as demand increases for healthier food that’s traceable and sustainable.

About the Fair Labor Association

FLA is a collaborative effort of universities, civil society organizations and socially responsible companies dedicated to protecting workers’ rights around the world. We are an international organization with a dedicated staff and board, headquartered in Washington, DC, with offices in China, and Switzerland.