AAK has acquired 75 % of NPO Margaron LLC, a producer of margarine, spreads, and bakery and confectionery fats, based in St. Petersburg/Russia. Margaron has been a manufacturer to AAK for more than a decade and had last year revenues of approximately USD 29.4 m. Through the deal, the Swedish-Danish producer of vegetable oils and fats aims to bolster its position in the Russian market. The acquisition is expected to be finalized during the second quarter of 2020.

“Russia and the Commonwealth of Independent States (CIS) countries have a population of more than 200 million people and is a highly attractive market for AAK,” says Johan Westman, President and CEO. “It is also one of the world’s largest chocolate and confectionery markets with strong potential for our Special Nutrition, Bakery and Dairy segments as well.”