Bunge completes acquisition of IOI Loders Croklaan

Bunge Limited today announced it has completed its acquisition of a 70% ownership interest in IOI Loders Croklaan from IOI Corporation Berhad.

The acquisition establishes Bunge as a global leader in business-to-business oil solutions with expanded value-added capabilities, reach and scale across core geographies. With Loders, Bunge will provide a comprehensive customer offering, from core products to specialties, for B2B customers in the food processing, industrial and artisanal bakery, confectionery, human nutrition and food service segments.

The company expects Loders to generate USD105 million of full-year EBITDA in 2018, plus USD15 million in synergies.

"We also expect the transaction to be accretive to earnings on a cash basis this year. The enterprise will operate within Bunge’s Food & Ingredients business as Bunge Loders Croklaan," the message says.

Reference: 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 USD 1.6 billion.