AAK completes acquisition of CSM Benelux NV in Merksem
AAK announced on April 9, 2014 an agreement to acquire the oils and fats business of CSM Benelux NV…AAK announced on April 9, 2014 an agreement to acquire the oils and fats business of CSM Benelux NV in Merksem, Belgium. The company is a leading bakery fats supplier to the bakery markets in Belgium, the Netherlands and France and provides a variety of bakery fat solutions, margarines and pumpable shortenings. The transaction is scheduled to be executed on July 1, 2014 and will be consolidated into Food Ingredients.
The acquired business employs around 100 people and had revenues of approximately SEK 970 million in 2013. The integration work will start immediately.
Acquisition related costs will be charged to the second quarter of 2014. As earlier communicated, the acquisition will start contributing to AAK’s operating profit during the second half of 2015.