Olam acquires third-largest peanut sheller in the US for $231m

It currently has a 12% market share.

Agribusiness giant Olam International today revealed that it is acquiring McCleskey Mills, the third-largest peanut sheller in the United States, at an enterprise value of $231m (US$176.0m).

MMI currently has a market share of approximately 12% and and an annual capacity of approximately 250,000 Farmer Stock Tons (FST).

MMI owns processing facilities at two locations in Georgia, the heart of the country’s peanut growing region in the Southeast.

In addition, it owns or manages 20 buying points and farmer stock storage assets at strategic locations in the Southeast region with a strong franchise amongst growers. MMI has also built long-standing relationships with a diverse set of customers in the snack, peanut butter and confectionery space.