Singapore's Olam says to buy U.S. peanut firm

SINGAPORE, April 22 (Reuters) - Singapore commodity trader Olam International Ltd. (OLAM.SI) said it has agreed to buy a U.S. peanut processing firm for $77 million.

In a statement to the stock exchange on Sunday, Olam said it has agreed to buy Georgia-based Universal Blanchers, which supplies peanut butter and paste to snack and confectionary makers, for $77 million.

Olam said the purchase will allow it to expand into the U.S. peanut processing business.