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CSM to sell bakery unit, focus on more profitable food ingredients
date:Mar 26, 2013
Dutch food ingredients group CSM NV has agreed to sell its bakery business for 850 million euros ($1.1 billion) to a U.S. private equity firm and plans to focus on more profitable food ingredients.

CSM put its bakery unit, which makes muffins and pastries for European and U.S. retailers, up for sale in May 2012, blaming weak consumer spending, high raw material prices and the lack of funds to expand the business.

CSM will shed 77 percent of its sales as a result of the divestment to Rhone Capi

12/24 07:18