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AarhusKarlshamn: AAK Acquires Rapsona AB
STOCKHOLM, Sweden-(Business Wire)-September 4, 2008 - Regulatory News:
Today, AAK (STO:AAK) has acquired all shares in Rapsona AB. The newly acquired company, based in Jรคrfรคlla, north of Stockholm, supplies restaurants, food service, bakeries, small convenience food producers and other customers with a range of products based on vegetable oil. With estimated net sales in the region of SEK 70 million, the company has a strong position in its core business in the Swedish food industry.
โWe are delighted with this latest development, which fits in very nicely with our strategy of advancing up the value chain. The acquisition will enable us to offer our customers a more complete product portfolio in line with their needs,โ says Jerker Hartwall, AAK Group President and CEO.
โThis is a natural progression for Rapsona,โ says the previous owner Georgios Vasmatzis. โRapsona is now of a size that calls for a more structured environment to ensure continuous development.โ
The newly acquired company will continue to operate under the name Rapsona AB. Georgios Vasmatzis will stay on as a member of Rapsonaโs board of directors, and will be working with AAK to develop the company towards new goals.
โOur aim is for products with high added value to account for an increasing proportion of sales, and the acquisition of Rapsona should be viewed as a step towards achieving our strategy. The Rapsona AB acquisition makes us stronger in the area of food solutions. Further, Rapsona will make a positive contribution to AAKโs result in 2008,โ says Jerker Hartwall.
Facts/AAK
AAK is the worldโs leading manufacturer of high value-added speciality vegetable fats. These fats are used as substitutes for butterfat and cocoa butter, as transfree solutions for fillings for chocolate and confectionery products, and in the cosmetics industry. AAK has production facilities in Denmark, the Netherlands, Mexico, Great Britain, Sweden, Uruguay and the USA. The company is organised in three Business Areas; Chocolate and Confectionery Fats, Food Ingredients and Technical Products & Feed.
Read more at www.aak.com.
This information was brought to you by Cision http://www.cisionwire.com
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