Swedish edible oils and fats producer will buy CSM Benelux oils and fats business in Merksem, Belgium.
The financial terms of the transaction have not been divulged.
The acquisition includes a facility in Merksem and bakery innovation center, where clients can develop new products and solutions in collaboration with AAK′s customer innovation teams.
CSM Benelux oils and fats business provides a range of bakery fat solutions, margarines and pumpable shortenings. The business has a workforce of 100, and had revenues of about SEK970m in 2013.
AAK Europe president Jens Wikstedt said the acquisition will strengthen the company's ability to supply Bakery solutions in western continental Europe and create mutual cross-selling opportunities for Bakery and CCF products to existing customer bases."
AAK president and CEO Arne Frank said, "Pursuing our global growth strategy, this acquisition is an integral part of our company program AAKtion and adds important capabilities in Sales and Customer Innovation. Merksem will serve as a platform for increased sales within, Bakery and CCF."
The company expects the acquired entity to contribute to its operating profit during the second half of 2015.
The acquisition, which is subject to regulatory approvals following works council procedures, is expected to be completed within three months.
Image: CSM Benelux oils and fats business provides a range of fat solutions to bakery industry. Photo: courtesy of Lotus Head.
