M&As this week: AAK, Post Holdings

AAK has acquired California Oils (CalOils) from Mitsubishi Corporation.

CalOils now forms part of food ingredients, and chocolate and confectionery fats business areas of AAK and operates as the AAK’s fourth production facility in the US.

CalOils’ revenue was approximately $157.6m last year. The company produced approximately 110,000Mt of speciality oils for the same period.

The acquisition of CalOils will transform AAK as the leading supplier of speciality and semi-speciality edible oils in California and throughout the west coast of the US and Canada.

Through its subsidiary Michael Foods (MFI), Post Holdings has agreed to acquire US-based National Pasteurized Eggs (NPE) for undisclosed consideration.

NPE markets pasteurised shell eggs under the Davidson’s Safest Choice brand and other private label brands.

Scheduled for completion by the fourth quarter of this year, the acquisition will expand the production and supply capacity of MFI, ensuring growth in pasteurised shell eggs business.

Lazard Middle Market is the financial adviser, while Sidley Austin is the legal counsellor to NPE, in the transaction.