AarhusKarlshamn buys Golden Foods/Golden Brands
July 1, 2011
by Eric Schroeder
KARLSHAMN, SWEDEN — AarhusKarlshamn (AAK), a producer of specialty vegetable oils and fats, has acquired Louisville, Ky.-based Golden Brands L.L.C., a processor of specialty fats and oils and manufacturer of shortenings for the bakery and food service industries. Financial terms of the transaction were not disclosed.
“This acquisition is an integral part of AAK Acceleration, which calls, beyond organic growth, for selective acquisitions that synergistically benefit our customers; it significantly strengthens our ability to supply existing and new customers with a broader portfolio of specialty oils and fats solutions,” said Arne Frank, president and chief executive officer of AAK Group. “As one of the largest specialty oil markets in the world, expansion in the U.S. is also particularly exciting.”
Jean-Marc Rotsaert, president of AAK USA, said the product lines expand and complement AAK’s existing portfolio, and the Louisville location adds a new geographic dimension. AAK also has a U.S. site located at 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.,” Mr. Rotsaert said.
Founded in 1982, Golden Brands L.L.C. employs approximately 160 people and had revenue of approximately $120 million in 2010.