CSM Bakery Solutions sells BakeMark unit to Pamplona
24 Jul 2017 --- CSM Bakery Solutions has reached an agreement for the sale of its BakeMark business to Pamplona Capital Management, but terms of the deal are not being disclosed. The agreed deal is an important step in advancing CSM's strategy to focus on its core business in Europe and North America, according to company President and CEO, Marianne Kirkegaard.
“We have always had great appreciation for the value of the BakeMark business but this sale will help us support our goal of further strengthening our core business in Europe and North America by focusing on our value added bakery products and ingredients portfolio,” she said.
“Under Pamplona's ownership, BakeMark can further strengthen its strong position and reputation as the industry's supply and distribution market leader in North America.”
California-based BakeMark provides distribution services through a network of 25 distribution centers and three manufacturing facilities across the US and Canada.
It has a diverse portfolio of products, ingredients and supplies to the food industry under brands that include Westco, Trigal Dorado and BakeSense.
“BakeMark is a market-leading specialty distribution platform serving as the premier bakery ingredient supplier in North America. We believe BakeMark is well positioned to succeed as a stand-alone entity and capitalize on new growth opportunities,” adds William Pruellage, a Partner at Pamplona.
“We look forward to supporting Jim Parker, President and CEO of BakeMark, and the rest of the company's exceptional management team to build on its long history of providing trusted and valuable service to the food industry.”
Parker says partnering with Pamplona represents the next stage of BakeMark's growth.
“As an independent company with the support of Pamplona, BakeMark is ideally positioned to continue providing customers with quality products and full-service distribution capabilities,” he said.
The BakeMark investment is being made from Pamplona's fifth private equity fund, Pamplona Capital Partners V, L.P., a US$3.4 billion investment vehicle raised in 2017.
