Trading under the new name AAK Soya International, the new business will continue to supply its existing customers across both businesses, with the additional benefit of extending the reach of Manchester-based Soya international and expanding AAK’s product range.
Soya International co-founder Sonny Arora said: “This acquisition is highly positive both for us and our existing customers. AAK shares our vision of achieving growth by focusing on key industry trends and we’re excited to continue on this journey, driven by a new, dedicated leadership team.”
Arora will remain as managing director for AAK Soya International.
AAK Soya International will supply a range of products, including non-genetically modified organism (GMO) liquid lecithins, non-GMO powdered lecithins, organic lecithins and speciality lecithin solutions developed for chocolate, confectionery, bakery, dairy and infant nutrition applications.
Marco Oomen, global business director for chocolate & confectionery fats at AAK, added: “Our ambition is to be one of the world’s leading non-GMO lecithin suppliers, with a focus on value-adding speciality products.
“The establishment of AAK Soya International gives us a major foothold to do this and it’s a perfect strategic fit with AAK’s speciality oils & fats portfolio.”
Prinova Group takeover
The deal followed the acquisition of UK ingredients maker Prinova Group by Japanese chemicals trading firm Nagase, announced last month.
Nagase said the acquisition of Prinova, which has six manufacturing sites and more than 35 distribution centres globally, would allow it to expand its presence in Europe and North America.
Prinova makes functional ingredients for a wide range of food sectors, including bakery, beverages, dairy, infant nutrition, and ready meals.
Prinova said its current global management team would remain in place, and that it would “continue to deliver the same value and service customers have come to expect”.
Meanwhile, last week, Valeo Foods announced it had agreed to acquire snack brand Kettle Foods from US-based Campbell Soup Company, in a deal worth £66m.
The deal, which also included Norwegian sister company Yellow Chips, would see Campbell withdraw from snack manufacturing in Europe.