AAK has signed an agreement to acquire the Turkish frying oil brand Frita from Unilever. Frita, a market leader in the frying oil segment in Turkey, covers a significant part of the local Food Service market. The brand had revenues of approximately SEK 75 million in 2013.
The acquisition should be seen as a natural addition to AAK Turkey’s existing product portfolio and is an add-on to the Unipro acquisition during the third quarter of 2013.
“Frita has a very good reputation in Turkey and AAK Turkey already covers 80 percent of the Frita customers with our current bakery distribution”, says Torben Friis Lange, President Asia, CIS and Middle East. “By acquiring Frita, we will extend AAK Turkey’s product offerings.”
The impact on AAK’s operating profit is expected to be very limited.
For further information, please contact:
Director External Accounting & Investor Relations
|Phone: + 46 40 627 83 34||Phone: +46 40 627 83 32|
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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 July 18, 2014 at 11.30 a.m. 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 Belgium, Colombia, 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.