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Europe: AAK acquires Belgian bakery supplier

AAK has acquired the oils and fats business of CSM Benelux NV in Merksem, Belgium, which will be consolidated into AAK’s food ingredients division.

CSM Benelux NV is a bakery fats supplier to the bakery markets in Belgium, the Netherlands and France.

It supplies bakery fat solutions, margarines and pumpable shortenings to the region.

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 (US$144 million) in 2013.

The integration work will start immediately.

Acquisition related costs will be charged to the second quarter of 2014.