AAK Acquires Unipro in Turkey
AAK, one of the world-leading producers of high value-added vegetable oils and fats, has acquired Unipro from Unilever for an undisclosed price. Unipro is a leading supplier of oils and fats to the industrial and bakery markets in Turkey and the surrounding region. Founded in 1990 and located in Istanbul, Unipro employs approximately 37 people and had revenues of approximately SEK700 million (Eur82 million) in 2012.
The acquisition of Unipro includes ten established brands, a core management and sales organization, all related know-how and the Unipro company name for bakery and industrial fats.
AAK has entered a 5 years toll manufacturing agreement with Unilever relating to the supply of Unipro products.
“AAK will strengthen its presence in the 16th largest economy in the world which also has a strong real GDP growth. This is AAK’s next step in its strategy of increasing focus on growth markets,” says Torben Friis Lange, senior vice president of AAK.
“This acquisition will serve as a platform for increased AAK sales of semi-speciality and speciality products in Turkey and the Middle East,” says Arne Frank, president and chief executive of AAK Group.
The acquisition is subject to approval by the competition authorities. The impact on AAK’s 2013 operating profit is expected to be limited.
