AarhusKarlshamn acquires Croda Food Services
July 02, 2007
by Eric Schroeder
STOCKHOLM, SWEDEN — AAK UK, the U.K. division of global specialty oils company AarhusKarlshamn AB, has acquired Croda Food Services from Croda International P.L.C. Based in Oldham, U.K., Croda Food supplies a range of products and services to the bakery industry, including release agents and divider oils together with bespoke delivery systems.
Financial terms of the transaction were not disclosed.
"We are delighted to have concluded this deal, which fits so well with our strategy of offering specialty oil-based products and services and, as a major player in the U.K. bakery fats sector, enhancing our product range in this way will offer our customers a more complete package to meet their needs," said Ian McIntosh, president of AAK UK
According to AarhusKarlshamn, Croda Food will be incorporated into the AAK UK structure and trade as AAK Bakery Services. AAK Bakery Services will continue to operate from its Oldham base and the company said it plans to expand its focus on export markets. AAK UK, which is one of the U.K.’s largest vegetable oil refineries, also includes AAK Foods based in Runcorn, Cheshire, offering sauces, dressings and marinades to the retail and food service sectors.
"We are striving for a growing proportion of high value-added products," said Jerker Hartwall, president and chief executive officer, AAK Group. "A step in this direction of forward integration is the acquisition of Croda Food Services, which strengthens our position in the bakery sector."
AarhusKarlshamn has production facilities in Denmark, Mexico, The Netherlands, Sweden, Great Britain, Uruguay and the United States. The company is organized in three business areas; chocolate and confectionery fats; food ingredients and technical products and feed.