Barloworld, an industrial brand management company, is set to acquire Tongaat Hulett Starch, an agriculture and agri-processing business, from sugar manufacturer Tongaat Hulett for $340m including debt. The acquisition is the result of an auction process conducted by the Seller and follows a comprehensive financial, legal, tax, technology, environmental and commercial due diligence performed by Barloworld and its external advisors. The outcome of the due diligence and the subsequent commercial negotiation culminated in a transaction that is acceptable to Barloworld.