AarhusKarlshamn (AAK) will acquire Belgium bakery fats specialist CSM Benelux to drive strength in its bakery supplies business, its European president says.
The acquisition, expected to be completed in the next three months, will see AAK acquire CSM Benelux’s Merkshem factory, bakery innovation center and experienced teams.
Europe president Jens Wikstedt said the buy would strengthen the company’s ability to supply bakery ingredients in western continental Europe as well as create cross-selling opportunities for bakery and chocolate and confectionery fats to existing customers.
CSM Benelux pulled in revenues of SEK 970m ($149.1m) last year and should start contributing operating profits to the AAK business during the second half of 2015.
In July last year, AAK acquired Turkey-based fats supplier Unipro from Unilever for an undisclosed sum.