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September 23,  2021

AAK has agreed a deal to purchase BIC Ingredients, the lecithin arm of BIC International Holding,
significantly increasing its footprint in the European lecithin market and supporting its vision of
becoming one of the world’s leading suppliers of speciality lecithin.

Expanded offer
BIC Ingredients supplies non-GM speciality lecithin and lecithin compounds. The company, which is
based in the Netherlands, sources its raw materials from various regions around the world. Lecithin is
a natural emulsifier produced from plant-based oils such as soy, sunflower and rapeseed.

AAK will integrate BIC Ingredients’ products into its current portfolio of speciality lecithins, sold under
the Akolec® brand.

Alec van Veldhoven, Commercial Director at AAK Natural Emulsifiers, said: “BIC Ingredients is a
natural fit with our business. BIC’s existing lecithin customers will now be able to benefit from AAK’s
unique customer co-development approach, which is driven by customer needs, built on
collaboration, and geared for better success rates and lasting value. By expanding our portfolio
further, we will be able to create even better solutions in close collaboration with our customers
globally.”

Harro de Groot, CEO of BIC International Holding, said: “I am pleased for our customers that BIC’s
lecithin business will now be integrated into AAK’s co-development approach, focusing on finding
solutions for the customers we serve, alongside our current high standards of quality assurance. My
team and myself will remain involved in the business and will continue to support AAK’s Natural
Emulsifiers team over the next three years. This transaction will further enable BIC International
Holding to increase its focus on plant-based protein through our entity BIC Protein.”

Global leadership
AAK’s acquisition of BIC Ingredients represents the next step in the company’s ambition to become a
global leader in speciality lecithin. It is also an opportunity for customers to source speciality lecithin
ingredients alongside oils & fats from one trusted supplier.