105
Note Acquisitions
MaasRefinery B.V.
During the first quarter, AAK acquired the Dutch company
MaasRefinery B.V. with a production capacity of approximately
40,000 MT and room for expansion. The plant had
revenues of SEK 50 million in 2018 and has 20 full-time
employees. The company forms part of AAK’s sales and
profit as from March 1, 2019. The acquisition had very limited
impact on AAK’s profit for 2019.
BD Foods Ltd.
BD Foods Ltd., a British foodservice company with production
of tailor-made restaurant quality meal accompaniments, was
acquired by AAK during the first quarter. In 2018, revenues
27
amounted to SEK 120 million and the company had approximately
100 employees. BD Foods forms part of AAK’s sales
and profit from March 1, 2019. The acquisition had very
limited impact on AAK’s profit for 2019.
Soya International (Europe) Ltd.
In the third quarter, AAK acquired the UK-based company
Soya International (Europe) Ltd. The company focuses on
the sourcing, processing and distribution of non-GMO semi-
speciality and speciality lecithins and had 2018 revenues
of approximately SEK 150 million. The company forms part
of AAK’s sales and profit as from September 1, 2019. The
acquisition had very limited impact on AAK’s profit for 2019.
AAK Kamani Pvt. Ltd.
During the second quarter 2019, AAK acquired an additional
13 percent of the shares in AAK Kamani, India for an amount
of SEK 112 million, and in the fourth quarter an additional
5 percent for an amount of SEK 47 million. AAK now owns
69 percent of the shares. The transaction had no significant
impact on AAK’s profit in 2019.
Assets and liabilities recognized as a consequence of the acquisitions Fair value (SEK million)
Goodwill 29
Contracts with customers 35
Trademarks 9
Property, plant and equipment 125
Other non-current assets 10
Inventories 37
Other current assets 53
Cash and cash equivalents 69
Provisions -13
Other non-current liabilities -182
Other current liabilities -63
Total net assets 109
Goodwill 336
Total acquisition with cash and cash equivalents 445
Net outflow of cash and cash equivalents on account of the acquisitions
Cash and cash equivalents paid for the acquisitions 445
Cash and cash equivalents in the companies acquired at the acquisition date -69
Impact on the Group’s cash and cash equivalents 376