AAK announced on April 9, 2014 an agreement to acquire the oils and fats business of CSM Benelux NV 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 transaction is scheduled to be executed on July 1, 2014 and will be consolidated into Food Ingredients.
The acquired business employs around 100 people and had revenues of approximately SEK 970 million 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.
For further information, please contact:
Director External Accounting & Investor Relations
Phone: +46 40 627 83 32
Mobile: +46 709 88 56 13
The information is that which AAK 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 June 25, 2014 at 3 pm CET.
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. 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. Further information on AAK can be found on the company’s website www.aak.com.