AAK has entered a management agreement with the trustee in the bankruptcy of TLC and Belovo – both part of the BNLfood Group – to restart the operation s of TLC,an ingredient supplier to the global nutrition market .
When all the necessary authorization s have been obtained, AAK will acquire the assets and activities of TLC . TLC ha s been a customer to AAK since many years and is specialized in extracting phospholipids from egg yolk . These phospholipids ha ve been supplied to the nutri tion market under the brand OvoLif e. Phospholipids e xtracted from egg yolk offer a dditional benefits when included in nutrition formulas and rein force functions of the brain, the eyes and the immune system at all life stages. By blending these phospho lipids with Akonino,AAK's solution for infant formulas,AAK will be able to extend its product range within the infant nutrition market and the nutr ition markets in general , with new advanced custom er co - developed products .
The new product s containing extracted egg yolk phospholipids will be branded Akonino PL.
AAK infant nutrition division chairman Renald Mackintosh said:" Egg phospholipids are important ingredients in nutrition formula s and t his investment wi ll help us to expand our infant nutrition portfolio.
"Today,Akonino PL is only sold in Europe but our ambition is to expand our sales outside of Europe during the coming years, with fo cus on Asia ."
The invested amount is not material and the transaction will have a very limited impact on AAK's short term profitability.The investment is financ ed well with in the existing credit facilities . AAK will continue the operation from the curren t premises in Bastogne, Belgium and operations will be restarted as of today.
