CSM Sells Part of its Bakery Operations in France

The selling price excluding inventories amounts to EUR 7.7 million, more or less equalling bookvalue. Sales amount to approximately EUR 15 million. All dedicated staff (around 93) will be transferred to the new owner.

01/06/07 CSM has said that it has reached agreement with Neuhauser on the sale of the frozen bread operations of its subsidiary Délices de la Tour (DLT) in Maubeuge, France.

CSM expects to effectuate the transaction in the short term. The selling price excluding inventories amounts to EUR 7.7 million, more or less equalling bookvalue. Sales amount to approximately EUR 15 million. All dedicated staff (around 93) will be transferred to the new owner. Neuhauser is a leading French producer of, amongst others, frozen bakery products (total sales of around EUR 250 million).

This transaction follows the sale of the viennoiserie operations of DLT in Le Mans earlier this year.