AAK acquires major stake in Soya International
Oil and fats processor AAK has acquired a majority stake in UK-based Soya International, making it one of the world’s leading suppliers of speciality lecithin. 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 chocolate, confectionery, bakery, dairy and infant nutrition applications. Lecithin is a natural emulsifier produced from vegetable oils such as soy, sunflower and rapeseed.
Following the acquisition, there will be no change to current lecithin supply arrangements for existing customers. However, the new set-up provides significant business opportunities for new and existing customers. AAK Soya International’s products are already available in more than 40 countries and the company’s reach will now extend further thanks to AAK’s global sales network. The company will continue to operate out of Manchester, UK.
AAK Soya International will be perfectly positioned to service the growing demand for non-GMO, sustainably produced lecithin ingredients in traditional markets like Europe with high growth in the US and Asia especially.
Operations are simplified as customers can now source speciality lecithin ingredients alongside oils and fats from one trusted supplier.
Sonny Arora, co-founder of Soya International, will remain as managing director of AAK Soya International. He said: “This acquisition is highly positive both for us and our existing customers. 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.”
Marco Oomen, global business director chocolate & confectionery fats at AAK, said: “Our ambition is to be one of the world’s leading non-GMO lecithin suppliers, with a focus on value-adding speciality products. The establishment of AAK Soya International gives us a major foothold to do this and it’s a perfect strategic fit with AAK’s speciality oils & fats portfolio.”
Alec van Veldhoven, senior director of AAK Soya International, said: “In the oils & fats sector, AAK is globally recognised as the co-development company. 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.”