Edible Oil Company, AAK Gains Access to Japanese Market Through JV
Swedish edible oil company, AAK, has formed a joint venture with Japan’s Miyoshi Oils & Fats Co., gaining the company access to the Japanese market through the new entity, AAK Miyoshi JP.
AAK will control a 70% interest in the new company with Miyoshi Oils & Fats holding the remaining 30%.
AAK Miyoshi JP will be headquartered in Tokyo and will focus on the production of products for the confectionary, chocolate, bakery, dairy, and infant nutrition industries.
“With global customers and regional leaders Japan is obviously a very attractive market to be present in for AAK,” said Torben Friis Lange, president of AAK Asia. “Miyoshi is a very good match in size, location, technology and culture and has very well-developed relations with many important local customers. Together, we will continue to develop customer relations as well as the portfolio of specialty and semi-specialty products.”
AAK has been very active in achieving its global expansion goals. In addition to this new partnership, AAK is also building a specialty and semi-specialty edible oils factory in Zhangjiagang, China, which is scheduled to begin operations in the second quarter of 2016, and just recently announced its acquisition of a majority 51% stake in Indian edible oils company, Kamani.