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M&A Activity • Jan 2, 2025
2874_rns_2025-01-02_2112c443-0346-4c40-bcb7-ca98c4e55152.pdf
M&A Activity
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Press Release January 2, 2025 at 08:30 AM CET
Divestment of North American Foodservice site completed
On October 23, AAK announced an agreement to divest its Foodservice facility located in Hillside, NJ, USA. The transaction was finalized on December 31, resulting in a one-time positive cash flow impact of approximately SEK 600 million in the fourth quarter of 2024. The divestment is not anticipated to have a material effect on the company's profit and loss statement.
In 2024, the Hillside facility represented about 5 percent of AAK's total volumes and approximately 1 percent of its operating profit. As a result, the divestment is expected to increase the group's operating profit per kilo by approximately 4 percent, assuming no other changes.
On October 23, the same day the divestment of Hillside was announced, AAK also outlined plans to invest in a new facility to replace its existing Foodservice site in Dalby, Sweden. While the plans are still being finalized, we are pleased to confirm that the new site is expected to be located in Staffanstorp, representing a significant step in our efforts to strengthen and future-proof our Foodservice operations across Europe.
Contacts
Carl Ahlgren Head of IR, Communication & Brand Mobile: +46 706 81 07 34 E-mail: [email protected]
About AAK
Everything AAK does is about Making Better Happen™. We specialize in plant-based oils that are the value-adding ingredients in the products people love to consume. We make these products better tasting, healthier, and more sustainable. At the heart of AAK's offering is Customer Co-Development, combining our desire to understand what better means for each customer with the unique flexibility of our production assets and deep knowledge across products and industries. 4,200 employees support our close collaboration with customers through 25 regional sales offices, 15 dedicated Customer Innovation Centers and support of more than 20 production facilities. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has been Making Better Happen for more than 150 years.