AAK completes acquisition of CSM Benelux NV in Merksem
26 Jun 2014 --- AAK should complete the agreement to acquire the oils and fats business of CSM Benelux NV in Merksem, Belgium, on July 1st this year.
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 transaction, which was originally announced on 9 April 2014, will be consolidated into Food Ingredients.
The acquired business employs around 100 people and had revenues of approximately SEK 970m in 2013. The integration work will start immediately.
Acquisition related costs will be charged to the second quarter of 2014. As earlier communicated, the acquisition will start contributing to AAK’s operating profit during the second half of 2015.
AAK is one of the world's leading producers of high value-added speciality vegetable oils and fats solutions. These oils and fats solutions are characterized by a high level of technological content and innovation.
Teh company recently became Premier Foods's sole supplier of oils and fats.
AAK`s solutions are used as substitute for butter-fat and cocoa butter, trans-free and low saturated solutions but also addressing other needs of our customers. AAK has production facilities in Denmark, Mexico, the Netherlands, Sweden, Great Britain, Uruguay and the US. Further AAK has also toll manufacturing operations in Russia and Malaysia. The company is organized in three Business Areas; Food Ingredients, Chocolate & Confectionery Fats and Technical Products & Feed. AAK's shares are traded on the NASDAQ OMX, Stockholm, within the Large Cap segment.
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