AAK Acquires Danish Company Crown-Foods A/S
1 June 2012 --- The acquisition of Crown-Foods will strengthen our ability to supply a broader portfolio of Food Service products, which is a major benefit to both existing and new customers,” says Arne Frank, President and CEO of the AAK Group.
AAK one of the world-leading producers of high value-added specialty vegetable oils and fats – has acquired Crown-Foods A/S. Crown-Foods is a Scandinavian market leader producing sauces and dressings for Food Service customers.
“This acquisition is an integral part of the AAK Acceleration program, which calls for organic growth as well as selective acquisitions. The acquisition of Crown-Foods will strengthen our ability to supply a broader portfolio of Food Service products, which is a major benefit to both existing and new customers,” says Arne Frank, President and CEO of the AAK Group.
“Crown-Foods is a natural addition to AAK Food Service. With the company’s focus on quality and with a product portfolio that is gaining market shares in Scandinavia, it fits very well with our strategy to increase semi-speciality and speciality volumes. Further, Crown-Foods is an innovative company with a strong market position. By acquiring the company, we intend to grow the business and develop the product portfolio by providing access to the resources of AAK as one of the world-leading producers of high value-added specialty vegetable oils and fats,” says Søren Ask Nielsen, Managing Director Food Service Continental Europe.
Founded in 1988 and located in Mørkøv, Denmark, Crown-Foods employs approximately 20 people and had a turnover of approximately SEK 60 million in 2011.
The acquisition, effective today, is expected to have only limited impact on 2012 AAK operating profit.
The information is that which AarhusKarlshamn AB (publ) is obliged to publish under the provisions of the Stock Exchange and Clearing Operations Act and/or the Trading in Financial Instruments Act. The information was released to the media for publication on 31 May 2012 at 14.00 CEST.
