Sweden-based AAK has acquired the Louisville, Ky.- based Golden Foods/Golden Brands as part of its strategy to expand its U.S. operations.
AAK, a leading producer of speciality vegetable oils and fats, says the acquisition of Golden, which processes speciality fats and oils and also manufactures shortenings for bakery and food service industries, will benefit customers.
Arne Frank, president and ceo of AAK Group, says the U.S. expansion is particularly exciting.
“It significantly strengthens our ability to supply existing and new customers with a broader portfolio of speciality oils and fats solutions,” Frank explains.
Jean-Marc Rotsaert, president of AAK USA, says Golden’s product lines will expand and compliment AAK’s existing portfolio and speciality strategy. In addition, the Kentucky location will add a new geographic dimension to AAK’s exisiting site in Port Newark, N.J.
“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.,” he says.
The acquisition, effective immediately, is expected to have only limited impact on AAK’s operating profit in 2011, with material benefits beginning in the first quarter of 2012.
For more information on AAK, visitwww.aak.com; for more information on Golden Foods/Golden Brands, visithttp://www.gfgb.com/.
AAK acquires Golden Foods/Golden Brands
July 6, 2011