AAK, a producer of specialty vegetable oils and fats, has acquired the Golden Foods/Golden Brands business of Louisville, Ky., a North American processor of specialty fats and oils and manufacturer of shortenings for the bakery and foodservice industries.
“The product lines expand and complement our existing product portfolio and specialty strategy. The Louisville, Ky., location also adds a new geographic dimension to our existing site in Port Newark, N.J., with significant advantages for all customers but particularly those located in the Midwest. From now on, AAK’s North American customers will enjoy the highest quality product standards and superior service from two production sites in the United States,” said Jean-Marc Rotsaert, President AAK USA.
Founded in 1982, Golden Foods/Golden Brands employs 160 people and had revenue of approximately $120 million in 2010. The acquisition, effective July 1, is expected to have only limited impact on 2011 AAK operating profit, with material benefits beginning from the first quarter in 2012.