shv vertical integration, page-8

Exactly, couldn't agree more....the 50 mill was just the almond facility.....

If you were doing this deal logically of 'taking over almonds in Australia' in this time of weakness....

One would do exactly what Olam has done......clearly the big assets are the Orchards which one has to buy in a competitive bidding process, as Olam has succeeded......

One would also leave SHV to be the last thing to be acquired since ownership of SHV is wide open......and the person who can pay the most will be the new owner of the orchards

Without knowing the details of the assets.........there are a few interesting quirks about these deals...

The first deal was 128 mill for 8000 hectares, while the second for 160 mill was for 3800????....and the water rights were about the same for the two

It gets more intriguing that, assuming the orchards in the last deal for 160 mill are similar to SHV's own 3000+ orchards and water rights.........SHV's current market cap may be justified just by its own orchards!!!

Obviously, orchard quality differs but I understand that SHV has gathered some of the best for itself over the years