FRANCE: CSM to sell bakery unit to Neuhauser
Dutch bakery products and ingredients firm CSM is to sell the French frozen bread unit of its Délices de la Tour (DLT) arm to French bakery group Neuhauser.
CSM said that it expects the transaction to be completed "in the short term".
Excluding inventories, the Maubeuge-based business was sold for EUR7.7m (US$10.4m). The unit generates annual sales of around EUR15m.
All staff contracts will be transferred to the new owner, CSM said.
The move follows CSM's recent sale of the viennoiserie operations of DLT in Le Mans earlier this year.
- Danone's Q1: four things to learn
- Interview: Sir Kensington's on sale to Unilever
- Column: Why snacking is the new meal
- Nestle Q1 update: four things to learn
- Interview: "Disruptive" snack brand Hippeas
- Tyson shops Sara Lee bakery, Kettle and Van's
- Nestle to cut UK confectionery jobs
- PepsiCo affirms full-year target as Q1 hits mark
- Icelandic to sell Saucy Fish Co. owner Seachill
- Tyson to buy burger-to-entree firm AdvancePierre