Stories by Joy Baba-Yesufu
Saudi Arabia’s SALIC International Investment Company has acquired a 35.43% stake in Olam Agri Holdings for $1.24 billion.
The deal, which closed on December 23, 2024, values Olam Agri Holdings at US$3.5 billion. Olam Group will retain a majority stake of 64.57% in the agricultural unit. The transaction was first announced in March 2022.
As part of the agreement, Olam Agri and the Saudi Agriculture and Livestock Investment Company (SALIC) have established a Strategic Supply & Cooperation Agreement, aimed at expanding Olam’s presence in Middle Eastern markets.
“This deal reflects Olam Agri’s food security expertise, which is emerging as an important secular trend for our industry,” said Sunny Verghese, Olam Group’s Co-Founder and CEO. He noted that completing a transaction of this magnitude amid current macroeconomic uncertainty demonstrates the strength of Olam Agri’s business model.
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