AAK to acquire Unilever’s oil brand Frita in Turkey

Vegetable oils and fats producer AAK has signed an agreement with Unilever to acquire Turkey-based frying oil brand Frita, for an undisclosed amount.

Frita covers a significant part of the local food service market in Turkey and reported turnover of SEK75m ($10.95m) in 2013.

AAK said that the acquisition is an add-on to the purchase of Unipro last year.

The company acquired Unipro, another Unilever unit in Turkey, in July 2013. Unipro supplies oils and fats to the industrial and bakery markets.

AAK Asia, CIS and Middle East president Torben Friis Lange said: "Frita has a very good reputation in Turkey and AAK Turkey already covers 80% of the Frita customers with our current bakery distribution."

AAK expects the latest deal to have a limited impact on its operating profit.

AAK operates production facilities in Belgium, Colombia, Denmark, Mexico, the Netherlands, Sweden, the UK, Uruguay and the US.

The company, which also has toll manufacturing operations in Russia and Malaysia, operates in food ingredients, chocolate and confectionery fats markets.

Earlier this month, AAK acquired Colombia-based vegetable oils and fats producer FANAGRA.

FANAGRA reported SEK270m revenue last year, with an annual volume of 30,000t. It has 155 employees and a manufacturing plant in Villavicencio.