The American Institute of Baking (AIB) has agreed to purchase Chinese certification body Beijing Sino-Swiss ADC Service Co Ltd (SSADC), according to FoodBev. The financial terms of the acquisition deal were not disclosed in the said report.
In December last year, AIB officially acquired 51% of SSADC. Under the terms of the deal, the American organization will fully own SSADC upon completion of the transaction on December 2017. Until then, AIB plans to operate the newly-acquired entity as a standalone firm, the report detailed.
AIB Chief Executive Officer (CEO) Andre Biane said of the deal: "We are delighted with this acquisition in the fast-moving food safety segment of the global food industry. SSADC is a great addition that will enable AIB to extend our full portfolio of food safety services, including training, helping clients improve their GMP practices in their facilities, and GFSI audits to our multinational and exporting clients."
The addition of SSADC will allow AIB to function as a certification body in a new location, FoodBev reported.
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