INDONESIA March 2019
 
Olam takes control of Indonesia's largest cocoa processor
 
Olam International has recently acquired an 85% stake in the parent of Indonesia's largest cocoa processor as it seeks to capitalise on the growing demand for cocoa products in Indonesia and elsewhere in Asia.
The Singapore-based global food and agri-business said it will pay US$90 million for the stake in YTS Holdings which is the owner of PT Bumitangerang Mesindotama (BT Cocoa). The remaining 15% will be held by the founding members of BT Cocoa, Piter Jasman and his family.
Olam said the deal will add 120,000 tonnes of cocoa bean processing capacity and 30,000 tonnes of cocoa mass pressing capacity to service increasing demand in Asia, particularly for cocoa powder.
Olam Cocoa has been operating in Indonesia since 1996 and is the country’s largest exporter of cocoa beans. The company also owns one of the largest cocoa plantations in Indonesia, located on Seram Island.
Indonesia is the 6th largest market for chocolate consumption at 230,000 tonnes compared to global volume of 6 million tonnes. Demand for cocoa powder in Asia has also been increasing at a CAGR of 8% with major consumers being China, India, Japan and the Philippines.
Yeong Chye, Head of APAC Global Cocoa Business said, “With the acquisition of BT Cocoa, we will be able to meet Asia’s increasing demand for cocoa ingredients with additional offerings that support the strong positioning of deZaan ingredients supplied from Singapore. We welcome the potential to further expand the BT Cocoa and Huysman brands in the Asian markets, allowing us to extend our breadth and competitiveness.”
 
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