CSM Bakery Solutions has agreed to sell its BakeMark business to investment company Pamplona Capital Management for an undisclosed sum as the Atlanta, Georgia-based bakery group focuses on other businesses in Europe and North America.
BakeMark, based in Pico Rivera, California, provides ingredients and products to the food industry via a network of distributors and manufacturing centres, with brands such as Westco and Trigal Dorado. CSM supplies specialised ingredients under names like Henry & Henry and MeisterMarken.
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“We have always had great appreciation for the value of the BakeMark business but this sale will help us support our goal of further strengthening our core business in Europe and North America by focusing on our value added bakery products and ingredients portfolio,” said CSM president and CEO Marianne Kirkegaard. “Under Pamplona’s ownership, BakeMark can further strengthen its strong position and reputation as the industry’s supply and distribution market leader in North America.”
New York and London-based Pamplona Capital was formed in 2005 and has US$15b in assets across a number of funds, according to a statement published on CSM’s website yesterday (17 July) announcing the deal.
Jim Parker, president and CEO of BakeMark, said: “We are excited to be partnering with Pamplona for the next stage of BakeMark’s growth.”
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In March, CSM announced a UK production facility targeted for closure would remain open.
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