Swedish-Danish company AarhusKarlshamn (AAK) has acquired Fabrica Nacional de Grasas, a Colombian company that specializes in vegetable oils and fats for the bakery segment.
The company reported revenues of approximately SEK270m in 2013, with an annual volume of 30,000 tonnes. It has about 155 employees.
FANAGRA, with its plant located in Villavicencio and headquartered in Bogotá, is marked by its high local market penetration through direct customer relationships and strong independent distributors. This platform will create cross-selling opportunities to existing and future customers, according to AAK.
President Northern Latin America Octavio Díaz de León said that this acquisition will reinforce AAK's speciality oils and fats strategy and offers a strong foothold in Colombia, the third largest GDP in Latin America.
"FANAGRA shows a significant potential to grow and emerge as an important player in the Colombian industrial market in which AAK will launch its innovative co-developed products that address global and local trends," de León added.
AAK Group president and CEO Arne Frank said, "The acquisition is an integral part of our company program AAKtion. It strengthens our presence in another fast-growing economy in the strategically important bakery market.
"It will also serve as a platform for increased sales of speciality and semi-speciality products within Dairy and Chocolate & Confectionery Fats in Colombia and Northern Latin America," Frank added.
