AAK has acquired 75% of NPO Margaron LLC, a producer of margarines, spreads, and bakery and confectionery fats, based in St. Petersburg, Russia. Margaron has been a toll manufacturer to AAK for more than a decade and had 2019 revenues of approximately SEK 280 million (approximately $29.5 million). The acquisition will enable AAK to move closer to many of its global strategic accounts, which have established themselves in Russia.
“Russia and the CIS countries [Commonwealth of Independent States] have a population of more than 200 million people and is a highly attractive market for AAK,” said Johan Westman, president and CEO. “It is also one of the world’s largest chocolate and confectionery markets with strong potential for our special nutrition, bakery, and dairy segments as well. By strengthening our local footprint, we will have an opportunity to expand our product portfolio and unique customer co-development approach to the Russian market.”
AAK could acquire the remaining 25% of Margaron if specific long-term targets are met. The acquisition, which is subject to approval from local authorities, is expected to be finalized during the second quarter of 2020.
Gathered Foods, makers of Good Catch plant-based seafood, has announced the appointment of Christine Mei as CEO.
The board of directors of Batory Foods, a national distributor of commodity and specialty food ingredients, has appointed Vince Pinneri to the position of president and member of the executive team, effective Aug. 31, 2020.
Nellson, a North American manufacturer of branded and private label nutritional bar and functional powder solutions, has announced that Martha (Marty) Hudak-Roos has been named chief quality officer.
Bell Flavors & Fragrances has announced the hiring of Megan Paul as a sensory technologist and Prisca Lumbu as a regulatory compliance specialist.
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