Bunge to acquire 70% ownership interest in IOI Loders Croklaan
Bunge Limited announces that it has entered into a definitive agreement to acquire a 70% ownership interest in IOI Loders Croklaan from IOI Corporation Berhad for $946 million, comprising €297 million and $595 million in cash.
The transaction expands Bunge’s value-added capabilities, reach and scale across core geographies to establish Bunge as a global leader in B2B oil solutions. Following the completion of the transaction, Bunge’s enhanced product offering will further support the growth of its customers around the world.
Loders' portfolio includes the full range of palm and tropical oil-derived products with strength in confectionery, bakery and infant nutrition applications. Loders serves global food industry customers in more than 100 countries around the world and reported fiscal year 2016 revenues of $1.6 billion.