AAK acquires 75% of Russian long-term partner Margaron
AAK has acquired 75% of NPO Margaron LLC, a producer of margarines, spreads, and bakery and confectionery fats, based in St. Petersburg, Russia.
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.
More News
Sonoma Brands acquires Chef’s Cut Real Jerky Co.
Sonoma Brands, a private equity investor and incubator focused on emerging consumer brands, has completed the acquisition of Chef’s Cut Real Jerky Co. for an undisclosed amount.
How consumers think about dietary fats and oils
According to a new survey of 1,000 American adults conducted by the International Food Information Council (IFIC), change in healthfulness perceptions of dietary fats is mixed.
Ingredion completes acquisition of PureCircle
Ingredion Inc., a global provider of ingredient solutions to diversified industries, has announced the completion of its acquisition of PureCircle Limited, a producer and innovator of plant-based stevia sweeteners and flavors for the food and beverage industry.
Bunge Loders Croklaan to open Creative Studio in Turkey
As part of its focus on Turkey, the Middle East, and North Africa, Bunge Loders Croklaan (BLC), a leader in edible oils and fats, is expanding its worldwide innovation network with its first Creative Studio in the region.
Silver Spring Foods expands capacity to meet horseradish demand
Silver Spring Foods, a subsidiary of Huntsinger Farms, a grower and processor of horseradish, has made several business moves in the last three months to position the company for the future.
Upcoming Events Listing
IFT Volunteer Section Meeting Flavor Creation by Mosaic Flavors
Nashville, Tennessee
South Eastern Section IFT Suppliers Night Expo
Atlanta, Georgia
Florida Section IFT Suppliers Night Expo
Orlando, Florida