AAK agrees to buy a Unilever brand in Turkey
July 21, 2014
by Jeff Gelski
MALMO, SWEDEN – AAK has agreed to acquire the Turkish frying oil brand Frita from Unilever. The Frita brand covers the food service market and had revenues of about SEK 75 million ($10.9 million) in 2013.
“Frita has a very good reputation in Turkey, and AAK Turkey already covers 80% of the Frita customers with our current bakery distribution,” said Torben Friis Lange, president Asia, CIS and the Middle East. “By acquiring Frita, we will extend AAK Turkey’s product offerings.”
In July of 2013 AAK acquired Unipro, a supplier of oils and fats to the industrial and bakery markets in Turkey and the surrounding region, from Unilever. Unipro had revenues of about SEK 700 million in 2012.