CSM announces sale of European bakery ingredients business
CSM Bakery Solutions, a global supplier of bakery ingredients, products and services, has announced that it has reached an agreement to sell its European and International Bakery Ingredients business to an investment subsidiary of Investindustrial VII L.P. (“Investindustrial”).
This is the latest step in the evolution of CSM, which has been owned by investment funds affiliated with Rhône Capital (together with its affiliates, “Rhône”) since 2013. As a stand-alone business, under Rhône’s ownership, CSM has expanded and strengthened its presence not only in Europe and North America, where CSM was originally present, but also in China and the Middle East, growing organically in a fragmented industry. This is the third significant division to be successfully divested by Rhône since its initial investment.