News

AAK completes CalOils acquisition

8 Sep 2016

AAK has announced that it has completed the acquisition of California Oils Corporation, previewed on July 15, 2016, who are based in Richmond, California and said to be the leading vegetable oils company on the U.S. West Coast.

AAK has announced that it has completed the acquisition of California Oils Corporation, previewed on July 15, 2016. The company, also known as CalOils, is based in Richmond, California and is said to be the leading vegetable oils company on the U.S. West Coast. CalOils now represents AAK’s fourth production site in the U.S., and will be consolidated into business areas Food Ingredients and Chocolate & Confectionery Fats.

The acquired business had last year revenues of approximately SEK 1,350 million and a volume of approximately 110,000 MT, with 65 employees. Integration will begin immediately.

Acquisition related costs will be charged to the third quarter of 2016. The acquisition cost is estimated to be approximately SEK 15 million. The acquisition is expected to start contributing to AAK’s operating profit from the third quarter 2017.