The deal will see the company significantly increase its footprint in the European lecithin market. AAK said the acquisition of BIC Ingredients represented the next step in the company’s ambition to become a global leader in speciality lecithin.
It also said that it also provides an opportunity for customers to source these ingredients alongside oils and fats.
BIC Ingredients supplies non-GM speciality lecithin and lecithin compounds. The company, which is based in the Netherlands, sources its raw materials from various regions around the world. Lecithin is a natural emulsifier produced from plant-based oils such as soy, sunflower and rapeseed.
AAK said it would integrate BIC Ingredients’ products into its current portfolio of speciality lecithins, sold under the Akolec brand.
Alec van Veldhoven, commercial director at AAK Natural Emulsifiers, said: “BIC Ingredients is a natural fit with our business. BIC’s existing lecithin customers will now be able to benefit from AAK’s unique customer co-development approach, which is driven by customer needs, built on collaboration, and geared for better success rates and lasting value.
“By expanding our portfolio further, we will be able to create even better solutions in close collaboration with our customers globally.”
Harro de Groot, CEO of BIC International Holding, said: “I am pleased for our customers that BIC’s lecithin business will now be integrated into AAK’s co-development approach, focusing on finding solutions for the customers we serve, alongside our current high standards of quality assurance. My team and myself will remain involved in the business and will continue to support AAK’s Natural Emulsifiers team over the next three years. This transaction will further enable BIC International Holding to increase its focus on plant-based protein through our entity BIC Protein."
Earlier this year AAK announced plans to consolidate production to optimise its European bakery business, moving a portion of its manufacturing capability to the UK.