Sweden-based food processing company AAK has agreed to acquire the Turkish frying oil brand Frita from Unilever.
Frita is engaged in the frying oil segment in Turkey and covers a significant part of the local Food Service market.
The brand had revenues of approximately SEK 75m in 2013.
The company said that the acquisition should be seen as a natural addition to its existing product portfolio and is an add-on to the Unipro acquisition during the third quarter of 2013.
Torben Friis Lange, President Asia, CIS and Middle East said, "Frita has a very good reputation in Turkey and AAK Turkey already covers 80 percent of the Frita customers with our current bakery distribution. By acquiring Frita, we will extend AAK Turkey's product offerings."
AAK refines vegetable oils for specialised products which meet the company's customers' high requirements. In partnership with its customers, AAK develops leading global positions with a high level of profitability.
AAK's head office is in Malm, Sweden, and acts as a central meeting place for the entire Group.
Image: AAK acquires Frita brand from Unilever. Photo: Courtesy of Marcel Douwe Dekker/Wikimedia Commons.
