25 Feb 2019 --- Vegetable oils and fats expert AAK has acquired Dutch company MaasRefinery B.V., which also specializes in toll refining of vegetable oils and fats for the food industry. With the acquisition, AAK is aiming to increase capacity, support existing production facilities and enable continued growth.
The acquisition of MaasRefinery B.V. is subject to approval from local authorities and is expected to be finalized during the first quarter of 2019. According to the company, it has no significant impact on AAK’s earnings. Acquisition-related costs will be charged to the first quarter of 2019.
MaasRefinery is located next to a deep-sea terminal in Rotterdam, the Netherlands, and has a capacity of approximately 40,000 megatons with room for expansion. The plant had revenues of SEK 50 million (US$5.3 million) in 2018 and has 20 full-time employees.
“We have seen strong growth within our European business over the past years and this investment will give us the additional capacity and secure support for continued growth,” says Johan Westman, President and CEO of MaasRefinery.
“MaasRefinery is a company that focuses on conventional as well as organic oils and fats, the latter being a key focus area for AAK,” says Jan Lenferink, President AAK Europe.
MaasRefinery was established in 2009 and is designed according to the latest technology with processes that maximize energy efficiency and minimize oil losses. Furthermore, the company is certified according to FSSC 22000 and fulfills the requirements of Skal, Kosher, RSPO and GMP+.
In October 2018, AAK inaugurated its new Customer Innovation Center in Singapore to further strengthen its capabilities and customer co-development approach in the Southeast Asian market.
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