Olam

Olam: Small acquisition of hazelnut co. Proposed acq of 100% of Progida Group (“Progida”) for total value of 66m Turkish Lira (US$38m), subject to conditions. Prodiga is one of Turkey's manufacturers and suppliers of hazelnut kernels and has been consistenly ranked amongst the top 3 Hazelnut exporters from Turkey. Turkey accounts for 70% the world's hazelnut production. Prodiga's assets include an ingredients processing facility in the Giresun, Turkey with a total capacity of 40k MT of kernel per annum and two leased cracking units in Ordu, Turkey.