CSM sells BakeMark Sweden

The sale of BakeMark Sweden is in line with the intentions to strengthen our strategic core activities in bakery products and food ingredients.

07/04/05 Dutch sugar and bakery ingredients supplier CSM has sold its BakeMark Sweden operations to Accent Equity Partners for € 8.75 million. Accent will take over all the operations of BakeMark Sweden, including the factory in Fagersta and the head office in Stockholm. The transaction takes effect on 1 May 2005. Including capitalized goodwill the book loss will amount to € 7 million in 2005.

“When reviewing the results of the last 6 months of last year we saw the need for a new strategy to become more profitable, especially in the bakery division. We want to improve the profitability through Restructuring, Divestment and Growth. Those three keywords are very important to us in defining the future for CSM", Marjolein Moerer at CSM told FoodIngredientsFirst.

Moerer explained that the sale of BakeMark Sweden is in line with the intentions to strengthen our strategic core activities in bakery products and food ingredients. One way of doing that is selling divisions in smaller countries and strengthening the company´s position in big countries. "Our core countries are Spain, Germany, France and Italy. By creating a strong core division we get a more profitable bakery division. Next to that we’re also restructuring some of our other divisions. A good example of that is the recent transfer of our beet processing operations in Breda to our other Dutch factory in Hoogkerk,” Moerer said.