Olam International offered to acquire Dangote Flour Mills for $361m.

Global food and agri-business Olam International offered to acquire Dangote Flour Mills, a leading flour and pasta manufacturer in Nigeria, for $361m. The proposed transaction would include DFM’s five strategically located facilities engaged in flour and pasta manufacturing, as well as its logistics capabilities including access to the ports of Apapa and Calabar. “The acquisition of DFM supports the strategy of the Grain and Animal Feed business, one of Olam’s prioritised platforms for growth, to expand our wheat milling capacity in high-growth markets, such as Nigeria,” said K.C. Suresh, Managing Director and CEO of Olam Grains and Animal Feed. “We are confident about the growth prospects in this country and this acquisition, doubling our installed capacity here, is evidence of our long-term commitment to the Nigerian economy.