Olam food ingredients (“ofi”) completes acquisition of Club Coffee L.P.
ofi, a global leader in naturally good food & beverage ingredients, is pleased to announce that the acquisition of Club coffee L.P. (“Club Coffee"), previously announced on 26 April 2022, was successfully completed.
Vivek Verma: ofi MD & CEO Coffee
ofi
Club Coffee is one of Canada’s largest coffee roasters and packaging solutions providers to the ‘At Home’ segment, serving private label customers and retail brands from its facilities in Toronto. The acquisition of Club Coffee is aligned with ofi’s growth strategy to deliver sustainable, natural, value-added food and beverage ingredients and solutions through a diverse channel mix, to customers across the globe. The private label and co-manufactured channel is an attractive, high value and growing part of ofi’s portfolio.
ofi MD & CEO Coffee Vivek Verma said: “I am delighted to welcome Club Coffee into ofi. Bringing together our respective expertise in sustainable sourcing and innovative packaging we are well-positioned to meet the increasing consumer demand in these areas, we expect to bring these benefits to our customers through this exciting combination.”
ofi acquired Club Coffee at an enterprise value of CA$ 150 million, subject to post-closing adjustments. Excluding acquisition-related costs and charges, the acquisition is expected to be accretive to current year earnings.
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