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World: AAK buys Turkish brand from Unilever

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AAK has signed an agreement to acquire the Turkish frying oil brand Frita from Unilever.

Frita, which covers a part of the local food service market, had revenues of approximately SEK 75 million (US$11 million) in 2013.

AAK says the acquisition should be seen as a natural addition to its Turkey’s existing product portfolio and is an add-on to the Unipro acquisition during the third quarter of 2013.

“AAK Turkey covers 80% of the Frita customers with our current bakery distribution. By acquiring Frita, we will extend AAK Turkey’s product offerings”, says Torben Friis Lange, president Asia, CIS and Middle East.