Karlshamn, Sweden — AAK AB has acquired 80 percent of Soya International (Europe) Ltd., makers of non-GMO semi-specialty and specialty lecithins, strengthening the Swedish supplier’s positioning in a product range vital to its customers, the company reports. The new business will trade under the name AAK Soya International Ltd.
“Lecithin is a key ingredient for many customers within our core segments, especially chocolate and confectionery fats and bakery, but also dairy, special nutrition, and personal care,” says AAK President and CEO Johan Westman. “By expanding our portfolio with this value-adding ingredient, we will further enhance our co-development capabilities and be able to create even better solutions in close collaboration with our customers globally.”
The acquisition has been consolidated, and AAK reports it has a put/call option to buy the remaining 20 percent of the company within the coming two to five years.
Alec van Veldhoven, senior director of AAK Soya International, says: “In the oils & fats sector, AAK is globally recognized as the Co-Development Company. We partner with our customers to find optimal solutions for their products and they appreciate this approach. Now we can also deliver this value proposition in the lecithin sector.”
Founded in 1996 by Sonny and Sonu Arora, Soya International operates out of Manchester, UK, has a third-party processing facility in the Netherlands, and holds relationships with customers and distributors in 40 markets worldwide, according to acquiring firm. Sonny Arora will continue as managing director of the business following this deal.
“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,” Sonny Arora says.