Olam restructures business into food ingredients, agri-business
Olam International will reorganize its diverse business portfolio to create two new coherent operating groups that are well-positioned for further growth in line with key consumer trends and market opportunities: Olam Food Ingredients (OFI) and Olam Global Agri (OGA).
Olam International will reorganize its diverse business portfolio to create two new coherent operating groups that are well-positioned for further growth in line with key consumer trends and market opportunities: Olam Food Ingredients (OFI) and Olam Global Agri (OGA).
OFI offers sustainable, natural, value-added food products and ingredients, and consists of Olam’s cocoa, coffee, edible nuts, spices, and dairy businesses. OFI has built a global value chain presence that includes its own farms, farm-gate origination, and manufacturing facilities.
OGA is a player in high-growth Asian and African countries supplying food, feed, and fiber to meet rising demand and a shift to protein-based diets. This group includes the differentiated businesses of grains and animal feed, edible oils, rice, cotton, and commodity financial services. OGA has built proprietary operating capabilities, including strengths in global origination, processing, trading, logistics, distribution, farming, and risk management, and an understanding of the market via on-the-ground presence in these emerging markets.
This plan will enable Olam to explore options to maximize its long-term value over and above the strategic plan via potential carve-out and capital raising options, including IPO listing for OFI and OGA. As the parent company of OFI and OGA, Olam International will play a key role in unlocking the full value of the Olam Group by providing stewardship to the new operating groups and accelerating growth.
A. Shekhar has been appointed as the CEO of OFI and will, therefore, step down from his current role as group chief operating officer of Olam, effective immediately. Sunny Verghese has been named CEO of OGA, in addition to continuing as Olam Group CEO.
“Over the past 30 years, Olam has built a valuable portfolio of businesses that have achieved leadership positions,” said Verghese in a press release. “By simplifying our businesses across two distinct and coherent groups, each with a clear vision for profitable growth, it sharpens our focus and provides opportunities to capitalize on key market trends while continuing to leverage the benefits of the Olam Group.
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