Dateline, October 26, 2016 – Olam International Limited (“Olam”), Olam Coffee’s parent company, announced today that it has acquired East African coffee specialist, Schluter S.A. (“Schluter”). Established in 1858, Schluter is an independent coffee company that specializes in trading East African specialty and premium Arabica coffees. A founding member of the Specialty Coffee Association in Europe, Schluter has offices in Nyon,Switzerland and Liverpool, UK, and operates milling facilities in the Democratic Republic of Congo and Burundi. It runs certified organic farmer support programs funded by European development agencies, which involve six nurseries and 1,800 farmers.
Vivek Verma, CEO of Olam Coffee, said: “Schluter’s name has been synonymous with fine coffees out of East Africa for generations; and their focus on building sustainable supply chains with smallholders is strongly aligned to our core purpose of growing responsibly.” Alan Nietlisbach, Senior Vice President of Olam Coffee’s Specialty Division, added: “This acquisition will provide a solid foundation into a growing and exciting European Specialty Coffee market. Schluter’s depth of expertise and exceptional customer service will complement our vision to connect roasters to the finest specialty green coffees available.”
Philip Schluter, Managing Director for the coffee company that carries his family name said: “We are a company who has been passionate in the promotion of African coffees and the livelihood of the farmers who produce it. I am pleased that we have found a market leader like Olam that shares the same goals and aspirations as us in growing the specialty coffee market. As a combined business, I am confident we will be able to serve our customers and partners in many ways better than before.”
Olam International acquired 100% interest in Schluter, valued at USD$7.5 million.