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2016-09-05

AAK: AAK completes acquisition of California Oils Corporation

AAK announced on July 15, 2016 its entry into an agreement to acquire
California Oils Corporation. The company, also known as CalOils, is
based in Richmond, California and is the leading vegetable oils
company on the U.S. West Coast. The transaction was completed on
August 31, 2016, and CalOils now represents AAK's fourth production
site in the U.S. CalOils will be consolidated into business areas
Food Ingredients and Chocolate & Confectionery Fats.

The acquired business had last year revenues of approximately SEK
1,350 million and a volume of approximately 110,000 MT, with 65
employees. Integration will begin immediately.

Acquisition related costs will be charged to the third quarter of
2016. The acquisition cost is estimated to be approximately SEK 15
million. As earlier communicated, the acquisition is expected to
start contributing to AAK's operating profit from the third quarter
2017.

For further information, please contact:
Fredrik Nilsson
CFO
Mobile: +46 708 95 22 21
E-mail: fredrik.nilsson@aak.com

The information was submitted for publication at 10:00 a.m. CET on
September 5, 2016.

AAK is a leading provider of value-adding vegetable oils & fats. Our
expertise in oils & fats within food applications, our wide range of
raw materials and our broad process capabilities enable us to develop
innovative and value-adding solutions across many industries -
Chocolate & Confectionery, Bakery, Dairy, Infant Nutrition,
Foodservice, Personal Care, and more. AAK's proven expertise is based
on more than 140 years of experience within oils & fats. Our unique
co-development approach brings our customers' skills and know-how
together with our own capabilities and mindset for lasting results.
Listed on the NASDAQ OMX Stockholm and with our headquarters in
Malmö, Sweden, AAK has 20 different production facilities, sales
offices in more than 25 countries and more than 2,700 employees. We
are AAK - The Co-Development Company.

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http://news.cision.com/aak/r/aak-completes-acquisition-of-california-oil...
http://mb.cision.com/Main/871/2071483/557481.pdf

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