AAK Acquires Oasis Foods Company in the US
25 May 2012 --- The company´s wide variety of established Food Service products and brands significantly broadens our product offerings in the largest food service market in the world”, says Arne Frank, President and CEO AAK Group.
AAK, one of the world's leading producers of high value-added specialty vegetable oils and fats – strengthens its position in the North American Food Service market by acquiring Oasis Foods Company.
Oasis provides an expansive variety of quality products such as edible oils, margarine, spreads, shortenings, vinegars, mayonnaise and sauces. Founded in 1975 Oasis employs approximately 160 people at Hillside, New Jersey, USA and had revenues of approximately SEK 925 million in 2011.
“Oasis is a very well-run and successful company in the Food Service industry and it represents an excellent platform for our North American ambitions. The company´s wide variety of established Food Service products and brands significantly broadens our product offerings in the largest food service market in the world”, says Arne Frank, President and CEO AAK Group.
“This acquisition is an integral part of AAK Acceleration and adds capabilities in areas identified as strategically important. The convenient New Jersey location provides easy access to some of the largest population centers in the country. We are delighted that Anthony Alves, Oasis Foods Company’s President will continue as President of Oasis with AAK”, continues Arne Frank.
“As an industry leader in vegetable oil solutions, AAK USA is the natural choice for Oasis’ future, which will contribute to a continued growth. I look forward to continuing Oasis’ growth as part of AAK”, adds Anthony Alves, President Oasis Foods.
The acquisition, effective today 25 May 2012, is expected to have only limited impact on 2012 AAK operating profit.
Press & Analyst Conference A telephone "Press & Analyst Conference", chaired by Arne Frank, the Group´s President and CEO, will be held at 1 pm, Central European Time, Friday 25 May 2012. To access the call, please register in advance via the investor tab on our website, www.aak.com.
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 25 May at 11 am CET.
