AAK Has Acquired the Remaining Shares of its Joint Venture in India

To further strengthen its position in the strategic and fast-growing Indian market, AAK AB has acquired the remaining 31% of the shares of AAK Kamani, the joint venture between AAK and Kamani Oil Industries Pvt Ltd. that was formed in September 2015. AAK now owns 100% of AAK Kamani.

“Working together with the founding family for the past five years, AAK is now ready to lead the next growth journey for AAK Kamani”, said Sten Estrup, president, AAK Asia. “Since engaging in the joint venture, we have – together with Prakash Chawla and his family – continuously expanded and developed AAK Kamani based on its strong heritage and brand recognition.” Kamani Oil Industries Pvt Ltd. was founded by the Chawla family more than 55 years ago. The company was a pioneer in introducing specialty oils and fats to the Indian market.

“The trust, openness, warmth and sharp focus displayed by the AAK team led to a wonderful partnership”, said Prakash Chawla. “Together, we have been able to create great value for all stakeholders and I am convinced that the company has an immensely bright future ahead in India.”

The payment for the remaining shares will be completed in the coming weeks.