Talley’s to lift Open Country stake to as much as 70.5 percent buying shares from Olam for $46.5M

Mon, 23 Dec 2013

Dec. 24 (BusinessDesk) - Talley’s Group, the privately-held maker of foods ranging from frozen fish to ice cream, agreed to buy up to 14.99 percent of Open Country Dairy from Singapore’s Olam International for as much as $46.5 million. The deal would lift Talley’s holding of the dairy company to as much as 70.5 percent from 55.5 percent, increasing its control of a business that returned to profit in 2012 while tapping shareholders for funds to repay debt. The sale price is close to the current carrying value of the investment in Olam’s accou...

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