,Singapore

Olam gets US$1b loan to acquire US spice manufacturer

Olam International Limited, through a subsidiary, has two years to pay for the acquisition of Olde Thomson.

Olam International Limited, through its subsidiary Olam Holdings, has secured a US$1b loan to acquire US-based spice manufacturer Olde Thomson.

Olde Thmpson has two automated bi-coastal facilities in New Jersey and California, where it produces and distributes spices, seasonings, baking ingredients and spice-related housewares to the rest of the country.

The acquisition is expeted to be earnings and margin accretive to Olam Foods from the first year onwards, and generate potential EBITDA of US$25-30m.

In April, Olam announced that Olde Thomson has an enterprise value of US$950m.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

HongKongLand had the most growth for the day.
It surpassed the Bloomberg consensus estimate of 14.5%.
The agreement aims to grow tourism and economic activities as borders reopen. 
It will also enter a loan agreement worth $210.6m.
The acquisition will be fully funded by cash through internal resources.
These countries are Cambodia, the Maldives, Sri Lanka, Thailand, and Turkey.
The decrease was driven by profit declines in their beer and non-alcoholic businesses.
Sources say the state-owned Chinese firm is in talks with advisers about the potential divestment.
The tests start on 29 November.
Exercise CyberMaritime 2021 puts the sector's cybersecurity readiness to the test.
This is equivalent to 236 attackers per company in a year.
Genting Singapore was seen with the most growth.
The partnerships aim to improve care delivery and patient outcomes.