AarhusKarlshamn (AAK), a Swedish-Danish producer of specialty vegetable oils and fats, has acquired Unipro - a leading supplier of oils and fats to the industrial and bakery markets in Turkey, from Unilever.
Established in 1990 and located in Istanbul, Unipro employs approximately 37 people and reported revenues of approximately SEK700m ($107.51m) in 2012.
The acquisition includes ten established brands, a core management and sales organization, all related know-how and the Unipro company name for bakery and industrial fats
In addition, AAK has entered a 5 years toll manufacturing agreement with Unilever relating to the supply of Unipro products.
AAK senior vice president Torben Friis Lange said that AAK will strengthen its presence in the 16th largest economy in the world which also has a strong real GDP growth.
"This is AAK's next step in its strategy of increasing focus on growth markets."
AAK Group president and CEO Arne Frank said that this acquisition is an integral part of AAK Acceleration, and adds presence in areas which are identified as strategically important.
"This acquisition will serve as a platform for increased AAK sales of semi-speciality and speciality products in Turkey and the Middle East," Frank said.
The acquisition is subject to approval by the competition authorities. AAK noted that the impact on its 2013 operating profit is expected to be limited.
AarhusKarlshamn is one of the world's leading producers of high value-added speciality vegetable fats. It has production facilities in Denmark, Mexico, the Netherlands, Sweden, Great Britain, Uruguay and the US. The company is organised in three Business Areas; Food Ingredients, Chocolate and Confectionery Fats and Technical Products & Feed.
