AAK acquires bakery fats specialist in Belgium
AAK has agreed to acquire the oils and fats business of CSM Benelux NV in Merksem. The company is a leading bakery fats supplier to the bakery markets in Belgium, the Netherlands and France. The acquired business employs around 100 people and had revenues of approximately SEK 970 million in 2013.
The business provides a variety of bakery fat solutions, margarines and pumpable shortenings. The acquisition includes the factory in Merksem, an experienced sales force, application specialists offering customized solutions, and a bakery innovation center. The innovation center will give customers the opportunity to work closely with AAK ́s Customer Innovation teams when developing new products and solutions for the bakery area.
“The acquisition will strengthen our ability to supply Bakery solutions in western continental Europe and create mutual cross-selling opportunities for Bakery and CCF products to existing customer bases.”, says Jens Wikstedt, President Europe, AAK.
“Pursuing our global growth strategy, this acquisition is an integral part of our company program AAKtion and adds important capabilities in Sales and Customer Innovation. Merksem will serve as a platform for increased sales within, Bakery and CCF. Further the well equipped factory will complement our existing European manufacturing foot print nicely”, says Arne Frank, President and CEO, AAK Group.
Merksem will start contributing to AAK’s operating profit during second half of 2015.
The acquisition is subject to approval by the competition authorities and following works council procedures. It is expected to be completed within approximately three months.
