AAK acquires California Oils Corporation
AAK AB (publ) has acquired California Oils Corporation (CalOils), which is based in Richmond, California. CalOils is the leading vegetable oils company on the U.S. west coast.
The acquired business had revenues of approximately SEK 1 350 million in 2015. CalOils, with an annual volume of approximately 110,000 MT, now represents AAK’s fourth production site in the U.S.
AAK is a leading provider of value-adding vegetable oils and fats and AAK has 20 production facilities around the globe. AAK’s shares are traded on the NASDAQ OMX, Stockholm, within the Large Cap segment.
AAK was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Niklas Bogefors and Hampus Thofte primarily assisted by Marcus Glimberg and Carl-Johan Zimdahl. Hanson Bridgett, California, acted as local counsel on the matter.