Press release
4th Mar, 2024
Olam Agri acquires Avisen to expand its feed capabilities into Senegal
The acquisition of the country’s second largest poultry feed supplier aligns with Olam Agri’s strategy to strengthen its animal feed capabilities in West Africa
Singapore
Olam Agri, a leading agribusiness in food, feed, and fibre, has completed the acquisition of Avisen SARL (“Avisen”) for EUR 17.0 million, assuming 100.0% ownership of the company. The price consideration was arrived at on a willing-buyer, willing-seller basis, taking into account the business performance and prospects of Avisen, and the capabilities and synergies between Olam Agri and Avisen.
This acquisition aligns with Olam Agri’s strategy to strengthen and expand its animal feed and protein capabilities and to invest in proven businesses having strong market positions. It extends the company’s feed and protein presence in West Africa, where it is one of the leading animal feed and day-old chick producers in Nigeria, while generating synergies with its wheat milling business in Senegal.
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Financial Press Release
28th Feb, 2024
Olam Group H2 2023 PATMI up 15.5%; launches share buyback and recommends final dividend of 4.0 cents per share
Singapore
Olam Group:
H2 2023 results improved over H1 2023; H2 2023 PATMI up Year-on-year (YoY) at 15.5%
Launches share buyback programme for up to a maximum of 5.0% of total outstanding shares within the current mandate and renewal of this mandate at the upcoming Annual General Meeting in April 2024
Board recommends final dividend of 4.0 cents per share, taking full year dividend to 7.0 cents per share (2022: 8.5 cents)
ofi:
EBIT growth of 15.4% in H2 2023 over H2 2022; 11.1% YoY in 2023, led by Ingredients & Solutions segment, which showed a YoY increase of 31.1%
Olam Agri:
EBIT growth of 67.9% in H2 2023 over H2 2022; 12.8% YoY in 2023 supported by strong contribution from the Food & Feed - Processing & Value-added segment
Re-organisation update:
Remain committed to pursuing IPOs of ofi and Olam Agri to unlock value for shareholders
Maintain flexibility on listing sequence and explore other strategic options to unlo
News
9th Nov, 2023
Olam Agri and Nutrifoods Support Akosombo Flood Victims
Olam Agri, the country’s leading supply chain manager in agri-commodity, and its sister company, Nutrifoods, a top food manufacturer in Ghana, on Friday, presented a consignment of relief items to flood victims of the Akosombo Dam spillage.
In mid-October, the Volta River Authority (VRA) began spilling water from the Akosombo reservoir to protect the dam from overtopping.
The influx of large volumes of water has raised levels, causing excessive flooding in several low-lying areas along the Volta River, including, but not limited to, Mepe, Battor, Sogakope, Mafi, Adidome, and Ada.
Blog
20th Mar, 2023
Building a Business that Conserves Forests, One Step At a Time
“I have worked in the Congo basin for years, but nothing could have prepared me for the moment when I was just steps away from Buka, who belongs to one of the four groups of habituated silverback gorillas living in the vicinity of our forest concessions in the Congo Basin,” says Vincent Istace, Head of Corporate Responsibility & Sustainability at Congolaise Industrielle des Bois (CIB), an Olam Agri subsidiary.
Personal pictures of Paki Paki taken by Vincent Istace in 2021. © Vincent Istace
“This landscape is ideal for wildlife viewing compared to other natural forests in the area. The forest is more open, making it easier to see and spot gorillas and other wildlife. This feature has made sites such as Mondika one of the world’s most interesting spots for the study of great apes.
It may surprise some to hear that critical gorilla and chimpanzee habitats around the buffer zones of Nouabale-Ndoki National Park, are also where sustainable timber harvesting is practiced.”
Forest