March 7, 2024

Olam Agri buys over Senegal's second biggest poultry feed supplier

Olam Agri has acquired Avisen SARL (Avisen), Senegal's second largest poultry feed supplier, for €17m (US$18.4 million).

The agribusiness will fund the acquisition from a combination of existing cash and debt facilities.

In a bourse filing, Olam Agri expects the acquisition to be earnings accretive from 2024 onwards. The agribusiness said its acquisition of Avisen will extend its feed and protein presence in West Africa.

Avisen's facility is in Rufisque and produces over 100,000 metric tonnes of feed.

- Singapore Business Review