AAK acquires CalOils from Mitsubishi Corp for undisclosed sum

By Elaine Watson

- Last updated on GMT

Picture: AAK
Picture: AAK

Related tags Palm oil Coconut

Swedish oils giant AAK has struck a deal to buy Richmond, CA-based California Oils Corp from Mitsubishi Corp in a bid to increase its presence in the US market.

CalOils, which generated revenues of SEK 1,350 million (c$158m) in 2015 and a volume of approximately 110,000 tons, employs 65 employees, and produces a variety of oils, including palm and palm kernel oils, coconut oil, high-oleic and high-linoleic safflower oils, high-oleic and mid-oleic sunflower oils. It also supplies customized blends of vegetable oils.  

 “A strong presence on the US west coast has been priority for AAK for several years,”​ said Terrence W. Thomas, president of AAK USA, which operates plants in Edison and Port Newark in New Jersey, and Louisville, Kentucky.

The acquisition of CalOils will transform AAK into a true national specialty and semi-specialty edible oils company, improving our ability to serve existing customers on a national scale while at the same time creating new customer opportunities​.”

The deal – the terms of which have not been disclosed - is expected to close between the end of August and the end of September this year.

Based in Malmö, Sweden, AAK has 20 production facilities, sales offices in more than 25 countries and more than 2,700 employees.

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