The company has 155 employees and had revenues of approximately SEK 270m last year, with an annual volume of 30,000 tonnes.
“This acquisition will reinforce AAK’s speciality oils and fats strategy and offers a strong foothold in Colombia, the third largest GDP in Latin America,” said Octavio Díaz de León, president Northern Latin America. “Fanagra shows a significant potential to grow and emerge as an important player in the Colombian industrial market in which AAK will launch its innovative, co-developed products that address global and local trends.”
The acquisition’s impact on AAK’s 2014 operating profit is expected to be limited, but will fully contribute starting in January 2015. The acquisition will have a slightly dilutive impact on EBIT per kilo for food ingredients.
© FoodBev Media Ltd 2024