Olam International, a global, integrated supply chain manager and processor of agricultural products and food ingredients, has acquired 100% equity interest in Kayass Enterprises for a price consideration of approximately $66.5m (subject to working capital adjustments at completion).
Kayass’ principal business interest is in the manufacturing and marketing of branded dairy products and beverages in Nigeria.
The company owns several brands, including the key brand Blue Boat, which has been traditionally a strong brand in the packaged milk powder category in Nigeria, and it has recently launched beverage brands Nature’s Fresh and Yo-Jus.
Kayass operates two plants in Lagos – a new dairy products and beverages manufacturing plant established in 2009 to European standards and a milk powder packaging facility.
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