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Olam pays $3.1 mil for 29% stake in coffee & nuts JV in Spain

Michelle Zhu Published on Thu, Apr 19, 2018 / 7:23 AM GMT+8

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SINGAPORE (Apr 19): Olam International says it has paid 1.88 million euros ($3.05 million) for a 29% stake in a joint venture (JV) company with Guzman Global, the distributor of industrial raw materials as well as coffee & nuts.

Guzman Global holds the remaining 71% stake.

Based in Spain, the JV company is named Guzman Coffee & Nuts (GC&N), and is now an associated company of Olam.