Sale BIC Ingredients to AAK
September 23, 2021
Yuno Advisors has advised BIC International – a Dutch manufacturer and supplier of functional ingredients – on the sale of its BIC Ingredients division to AAK, a listed Scandinavian company active in refining vegetable oils and fats.
BIC Ingredients supplies non-genetically modified specialty lecithin and lecithin compounds. The company, based in the Netherlands, sources its raw materials from various regions all over the world. Lecithin is a natural emulsifier produced from plant-based oils such as soya, sunflower and rapeseed.
AAK is a Nasdaq Stockholm listed global manufacturer of specialty vegetable oils and fats. AAK has origins going back 140 years to the establishment of the first factory in Aarhus, Denmark, in 1871, and the current AAK Group was formed in 2005 following the merger of Aarhus United from Denmark and Karlshamns from Sweden. AAK is active as co-developer of high-end vegetable oils and fats for the market segments Chocolate & Confectionery, Bakery, Dairy, Special Nutrition, Foodservice and Personal Care.
AAK took its first steps into lecithin in 2019 with the acquisition of UK based Soya International and with this add-on acquisition supports its ambition to become one of the world’s leading players in specialty lecithin.
Harro de Groot, CEO of BIC International, together with his team, will continue to support AAK and BIC Ingredients for the next three years. The transaction will enable BIC International to further increase its focus on plant-based proteins through its BIC Protein division.
Yuno Advisors has assisted BIC throughout the acquisition process. Our advice included project coordination, deal negotiations, due diligence support and transaction documentation.
Click here for the original press release from AAK.