AAK, Malmö, Sweden, said it acquired a majority stake in Manchester, England-based Soya International. The business will trade under a new name — AAK Soya International Ltd.
AAK Soya International supplies a comprehensive range of products, including non-GMO liquid lecithins, non-GMO powdered lecithins, organic lecithins and speciality lecithin solutions developed for dairy and infant nutrition applications and others. Lecithin is a natural emulsifier produced from vegetable oils such as soy, sunflower and rapeseed, the company said.
Following the acquisition, there will be no change to current lecithin supply arrangements for existing customers. However, the new setup provides significant business opportunities for new and existing customers. AAK Soya International said its products are already available in more than 40 countries, and the company’s reach will now extend further with AAK’s global sales network. The company will continue to operate out of Manchester.
“This acquisition is highly positive both for us and our existing customers,” said Sonny Arora, cofounder of Soya International, who will remain as managing director of AAK Soya International. “AAK shares our vision of achieving growth by focusing on key industry trends, and we’re excited to continue on this journey, driven by a new, dedicated leadership team.”
For AAK’s customers, the acquisition provides an opportunity to simplify operations by sourcing speciality lecithin ingredients alongside oils and fats from one supplier. There is growing demand for non-GMO, sustainably produced lecithin ingredients in traditional markets such as Europe, and high growth in markets such as the United States and Asia. AAK Soya International said it will be perfectly positioned to service this demand.
“In the oils and fats sector, AAK is globally recognized as the ‘co-development company,’” said Alec van Veldhoven, senior director of AAK Soya International. “We partner with our customers to find optimal solutions for their products, and they appreciate this approach. Now we can also deliver this value proposition in the lecithin sector.”