To build and drive its customer co-development strategy and broaden its capabilities, AAK has acquired British foodservice company BD Foods located in St Leonards-on-Sea on the south coast of England. BD Foods is a producer of tailor-made restaurant quality meal accompaniments and had revenues of approximately SEK 120 million in 2018.
“This acquisition is a very good fit with our global foodservice expansion and will provide a complementary range of products at the premium end of the foodservice market”, says Johan Westman, President and CEO. “BD Foods has a broad product and packaging offering, a customer-centric approach and a strong reputation in UK foodservice.”
BD Foods was established in 2001 and has approximately 100 employees. The company has a portfolio of over 3,000 products that are sold to a wide range of customers, including restaurants, hotels, airlines, wholesalers, and food manufacturers.
“By acquiring BD Foods, we will extend our foodservice range with, for example, dip pots, pouches and hot filled products”, says René Schou, President AAK Foodservice. “We will furthermore increase our capabilities and broaden our product portfolio which will give us greater access to some key operators in the foodservice market.”
The acquisition will be consolidated as of today and has no significant impact on AAK’s earnings. Acquisition-related costs will be charged to the first quarter 2019.
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This information was submitted for publication at 1:00 p.m. CET on February 27, 2019.
AAK is a leading provider of value-adding vegetable oils & fats. Our expertise in lipid technology within foods and special nutrition applications, our wide range of raw materials and our broad process capabilities enable us to develop innovative and value-adding solutions across many industries – Chocolate & Confectionery, Bakery, Dairy, Special Nutrition, Foodservice, Personal Care, and more. AAK’s proven expertise is based on more than 140 years of experience within oils & fats. Our unique co-development approach brings our customers’ skills and know-how together with our own capabilities and mindset for lasting results. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has 20 different production facilities, sales offices in more than 25 countries and more than 3,600 employees. We are AAK – The Co-Development Company.