Mannheimer Swartling has advised AAK on its agreement to acquire Frita, a frying oil producer in Turkey, from Unilever. Herguner Bilgen Ozeke acted as local counsel on the deal.
AAK’s acquisition is an add-on to AAK’s Unipro acquisition in the third quarter of 2013. The value of the transaction was not disclosed.
AAK’s President Asia, CIS and Middle East Torben Friis Lange is enthusiastic about the acquisition. “Frita has a very good reputation in Turkey and AAK Turkey already covers 80 percent of the Frita customers with our current bakery distribution,” he said. “By acquiring Frita, we will extend AAK Turkey’s product offerings.” The impact on AAK’s operating profit is expected to be limited.
Frita had revenues of approximately SEK 75 million in 2013.
AAK is one of the world’s leading producers of high value-added specialty vegetable fats and has production facilities in Denmark, Mexico, the Netherlands, Sweden, Great Britain, Uruguay, and the US. The company is listed on NASDAQ OMX Stockholm.
Mannheimer Swartling's team was led by Niklas Bogefors, who was primarily assisted by Isabel Lindeberg.
