Saturday 25 May 2024
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Olam sells its Russian instant coffee plant to Lalibela Coffee

The deal was completed on November 18, 2022, under undisclosed terms, the Russian company stated in a press release. Under the terms of the deal, Lalibela Coffee LLC took over a plant for packing granulated instant coffee into glass jars and doy-packs, which is located in Yakhroma in the Moscow region. Its capacity amounts to 7,000 tonnes per year

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MILAN – Olam International has sold its instant coffee production plant in the Moscow Region to Lalibela Coffee, the CEO of Lalibela Dmitry Guschin told Russian official agency TASS. Lalibela Coffee, a Russian company and a full-cycle producer of natural coffee under the Lalibela brand, purchased instant coffee producing assets located in the Moscow Region from Outspan International, the top manager said, according to the same source.

Outspan International Ltd is the Russian subsidiary of Olam International Ltd., and one of the largest suppliers of raw materials and semi-finished products to the food processing industry in Russia.

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The deal was completed on November 18, 2022, under undisclosed terms, the Russian company stated in a press release.

Under the terms of the deal, Lalibela Coffee LLC took over a plant for packing granulated instant coffee into glass jars and doy-packs, which is located in Yakhroma in the Moscow region. Its capacity amounts to 7,000 tonnes per year.

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The total consumption of instant coffee in Russia as of 2021 was estimated by Rosselkhozbank at 93,000 tonnes, reports Interfax.

“We are planning to invest about $9 million in the development of this segment, which with the current deficit of free production facilities and high-quality semi-finished instant coffee (freeze dried) in Russia today will allow the maximum capacity utilization of the plant,” Lalibela Coffee CEO was quoted as saying in the press release .

“The product under its own trademark Lalibela will be manufactured  in Yakhroma, as well as orders from federal retail chains to produce their own trademarks in the category of instant coffee will be placed there,” he said.

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