AAK Buys Oasis
Oasis provides a variety of quality products such as edible oils, margarine, spreads, shortenings, vinegars, mayonnaise and sauces. Founded in 1975, Oasis employs approximately 160 people at Hillside, N.J.
"Oasis is a very well-run and successful company in the foodservice industry, and it represents an excellent platform for our North American ambitions. The company's wide variety of established foodservice products and brands significantly broadens our product offerings in the largest foodservice market in the world", says Arne Frank, president and CEO AAK Group.
"This acquisition is an integral part of AAK Acceleration and adds capabilities in areas identified as strategically important. The convenient New Jersey location provides easy access to some of the largest population centers in the country. We are delighted that Anthony Alves, Oasis Foods Company's president will continue as president of Oasis with AAK", continues Arne Frank.
"As an industry leader in vegetable oil solutions, AAK USA is the natural choice for Oasis' future, which will contribute to a continued growth. I look forward to continuing Oasis' growth as part of AAK", adds Anthony Alves, president Oasis Foods.
The acquisition, effective today 25 May 2012, is expected to have only limited impact on 2012 AAK operating profit.
From the May 29, 2012, Prepared Foods’ Daily News
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