Bakels has acquired Aromatic AB, a Swedish supplier of bakery ingredients, for an undisclosed sum, British Baker can reveal. The deal for the privately-owned family business, which was established in 1936, was signed on Wednesday and will see Aromatic become part of Bakels from 1 January 2012, when it completes. The move is the second acquisition by Bakels in 2011, after the global company purchased Swiss firm Nutribake AG in the first quarter.
Aromatic, with its head office and production based in Stockholm, Sweden operates subsidiaries in Germany, Poland, the UK, Hungary, Switzerland, Turkey and the USA. It is also represented in many other markets of the world through an extensive network of experienced agents and distributors.
The acquisition is a complementary fit in many markets – both geographically and in terms of product mix – and allows Bakels and Aromatic to benefit from each other’s knowledge and network, said Bakels, announcing the deal.
Armin Ulrich, chief executive and chairman of Bakels, said: “Our ambition is to become a global product leader with high-quality functional products for the bakery ingredients market. With the acquisition of Aromatic, we are adding substantial technical product knowledge to our organisation – particularly emulsified products, where we see excellent opportunities within our worldwide network.”
Mats Persson, chief executive of Aromatic, added: “With the owner of Aromatic having decided to sell all shares in the company, the acquisition by Bakels was the best possible scenario to realise future synergies commercially and in manufacturing. The worldwide Bakels network, shared technologies and the wide range of products within Bakels will give many opportunities for Aromatic to grow the business further.”
Aromatic will in principle retain its brand and sales organisation, allowing for continuity in serving present customers by the current sales and technical staff.
Bakels, also a privately owned group of companies, has been a successful player in the development, production and marketing of bakery ingredients since 1904. In the UK, managing director Ade Abass left the group in September and was replaced on an interim basis by Paul Morrow.