Malmo / SE. (aak) AarhusKarlshamn AB (AAK), the world´s leading producer of high value-added specialty vegetable oils and fats, has acquired the Golden Foods / Golden Brands business of Louisville, Kentucky, the leading North American processor of speciality fats and oils and manufacturer of shortenings for the bakery and food service industries.
«This acquisition is an integral part of AAK Acceleration, which calls, beyond organic growth, for selective acquisitions that synergistically benefit our customers; it significantly strengthens our ability to supply existing and new customers with a broader portfolio of speciality oils and fats solutions. As one of the largest speciality oil markets in the world, expansion in the US is also particularly exciting», says Arne Frank, President and CEO AAK Group.
«The product lines expand and complement our existing product portfolio and speciality strategy. The Louisville, Kentucky location also adds a new geographic dimension to our existing site in Port Newark, New Jersey, with significant advantages for all customers but particularly those located in the Midwest. From now on, AAK´s North American customers will enjoy the highest quality product standards and superior service from two production sites in the U.S.», says Jean-Marc Rotsaert, President AAK USA.
Founded in 1982 and located in Louisville, Kentucky, Golden Foods / Golden Brands employs approximately 160 people and had revenue of approximately 120 million USD in 2010. The acquisition is expected to have only limited impact on 2011 AAK operating profit, with material benefits beginning from Q1/2012.
