ofi, a global leader in food and beverage ingredients, announced the successful completion of its acquisition of Club Coffee L.P., a major Canadian coffee roaster and packaging solutions provider. This transaction, initially publicized on April 26, 2022, aligns with ofi's strategy to expand in sustainable, natural, value-added food and beverage ingredients through a diverse channel mix worldwide. Club Coffee, based in Toronto, serves the 'At Home' segment, catering to private label customers and retail brands. The inclusion of private label and co-manufactured channels represents a high-value, growing segment in ofi's portfolio.

ofi's Managing Director and CEO of Coffee, Vivek Verma, expressed enthusiasm about the acquisition, citing the complementary strengths of both companies in sustainable sourcing and innovative packaging. He anticipates this merger will enhance their capacity to meet growing consumer demands in these areas.

The transaction was finalized at an enterprise value of CA$ 150 million, with adjustments expected post-closing. Excluding acquisition-related costs and charges, the acquisition is projected to positively impact ofi's earnings in the current year.