AAK Completes Belgian Acquisition
AAK, the specialist vegetable oils refiner, has completed its acquisition of the oils and fats business of CSM Benelux in Merksem, Belgium. The company is a leading bakery fats supplier to the bakery markets in Belgium, the Netherlands and France and provides a variety of bakery fat solutions, margarines and pumpable shortenings.
The acquired business, which employs around 100 people and had revenues of approximately SEK970 million (Eur105 million) in 2013, will be integrated into AAK’s Food Ingredients business. AAK’s other two business areas are Chocolate & Confectionery Fats and Technical Products & Feed.
The acquisition will start contributing to AAK’s operating profit during the second half of 2015.
“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 of AAK.
