ofi remains on track for an IPO in H1 2022
olam food ingredients (“ofi”), a global leader in natural and sustainable food ingredients and solutions, has just revealed its new brand. The identity taps into themes and colors which reflect ofi’s1 ability to drive innovation in all areas of its business to deliver more growth and impact for customers.
Brought to life in ofi’s recent ad and dedicated website, the brand is more than just a new look. It further underlines ofi’s thrust and focus as it shakes up the market with fresh thinking and ingredients that help food and beverage companies meet the growing consumer demand for natural, healthy, and sustainably sourced cocoa, coffee, dairy, nuts, and spices products.
Shekhar, CEO of ofi, said:
“The new ofi brand carries the strong origination and supply chain heritage of Olam but equally signals our exciting aspirations for the future. It conveys the distinct and accelerated changes being made in the business to continuously improve and deliver a differentiated customer value proposition.
“We are innovating across all areas of our business, right from plant to palate. Ongoing investments in application development and R&D expertise will unleash the full natural potential of our highly complementary portfolio to deliver further value-added ingredients and solutions for our customers. This could be replacing hydrogenated vegetable fat in a cream wafer with a specially formulated natural nut paste; or sourcing single origin Ecuadorian cacao beans delicately flavored with a hint of spice in artisan chocolates.
“At the farm level, we are investing further to deepen the physical and digital presence in sustainable sourcing that we are already well known for. We are also increasingly helping our customers to fast track their journey to net zero, providing specific programs for carbon reduction by working closely with smallholder farmers and other communities across the chain. Bringing all of this together underlines our new company purpose to ‘Be the Change for Good Food and a Healthy Future’, along with all our customers, partners and other stakeholders.”
Briony Mathieson, Chief Marketing Officer, who along with her team, led the development of the new brand, said:
“The new brand helps us deliver on three critical areas: giving greater clarity about all the ways in which we can support our customers’ growth; unifying and inspiring the ofi team to keep innovating across the business to create more customer value; and helping all other stakeholders and civil society to better understand the role we play on the ground in delivering various sustainability programs and catalyzing real impact. We believe that no company can do it alone and we want the new brand and purpose to convey our continuing commitment to collaborate with others to scale that impact - and together, we can make it real.”
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1 Pronounced ‘ofi’
Notes to Editors
Other updates on how ofi is making its brand proposition real for customers include:
- Expanding innovation and manufacturing capabilities: from 14 innovation centers today, ofi is opening a Chicago customer solutions center before the end of the year, and a new European center in 2022. These are supported by a new soluble coffee processing facility in Brazil to serve the expanding demand for coffee and a state-of-the-art dairy ingredients facility in New Zealand.
- Giving customers and partners more insight into supply chain challenges and setting specific targets to address them: Following on from the launch of the Cashew Trail sustainability strategy in June, ofi’s first formal goals and targets for hazelnuts will launch in early November, closely followed by almonds, and spices in 2022. In September, ofi’s Russian dairy business published its goals including a carbon reduction target of 50% per litre of milk by 2030 and carbon net zero dairy by 20502. The first impact report for Cocoa Compass was published in April, with its 2020 milestones achieved and progress shared for 2024 and 2030 goals. A first impact update for the Coffee LENS sustainability strategy will be published before December. Program data, footprinting and insights are also provided by sustainability platform AtSource.
2 From a 2018 baseline