AAK acquires bakery fats supplier CSM Benelux
summary：Swedish-Danish company AarhusKarlshamn (AAK has completed the acquisition of the oils and fats business of CSM Benelux in Merksem, Belgium....
Swedish-Dani
sh company AarhusKarlshamn (AAK) has completed the acquisition of the oils and fats business of CSM Benelux in Merksem, Belgium.The deal will be executed on 1 July 2014, and the acquired business will be consolidated into AAK's Food Ingredients unit.
AAK announced an agreement to acquire CSM Benelux's business on 9 April this year. CSM is a supplier of fats to the bakery markets in Belgium, the Netherlands and France.
It offers a variety of bakery fat solutions, margarines and pumpable shortenings.
The acquired business has a workforce of nearly 100 people and reported revenues of about SEK970m ($144m) in 2013. The integration work will begin immediately.
AAK said that the acquisition will be contributing to its operating profit during the second half of 2015.