AAK Annual Report 2019

14 Continued growth through strategic acquisitions AAK’s impressive growth journey over the last decade has been fueled by both organic growth and strategic mergers and acquisitions. Several impor- tant acquisitions were also completed during 2019. Increased capacity in Europe In early 2019, we acquired Dutch company MaasRefinery B.V., specialized in toll refining of vege- table oils and fats for the food industry. The rationale behind the acquisition was to increase capacity, support existing production facilities and enable continued growth for AAK. MaasRefinery is located next to a deep-sea terminal in Rotterdam and has a capacity of approximately 40,000 MT with room for expansion. The company, today known as AAK Rotterdam B.V., focuses on conventional as well as organic oils and fats, the latter being a key focus area for AAK. MaasRefinery was established in 2009 and is designed according to the latest technology with processes that maximize energy efficiency and mini- mize oil losses. The company has integrated well into AAK and has been able to support our other European production facilities in a good way. Premium foodservice products At the end of February, AAK acquired British foodservice company BD Foods, a producer of tailor-made restau- rant quality meal accompaniments. The acquisition is a very good fit with our global foodservice expansion and provides a complementary range of products at the premium end of the foodservice market. With a broad product and packaging offering, a customer-centric approach and a strong reputation in UK foodservice, the acquisition has broadened our product portfolio and given us greater access to some key operators in the foodservice market. The company, now acting as AAK BD Foods, was established in 2001 and is located in St Leonards- on-Sea on the south coast of England. It has a portfolio of over 3,000 products that are sold to a wide range of customers, including restaurants, hotels, airlines, wholesalers, and food manufacturers. The first year with AAK BD Foods has been very good and the company has delivered strong results within our foodservice business.