NETHERLANDS: CSM, Coberco reach agreement on purchase of bakery ops

Dutch food ingredients producer CSM has said it has reached an agreement with Friesland Coberco Dairy Foods on the acquisition of part of the Dutch dairy firm’s bakery operations. CSM said the acquisition is effective 1 July and will immediately contribute to the company’s earnings per share.

June 25, 2003

Dutch food ingredients producer CSM has said it has reached an agreement with Friesland Coberco Dairy Foods on the acquisition of part of the Dutch dairy firm’s bakery operations.

CSM said the acquisition is effective 1 July and will immediately contribute to the company’s earnings per share.

The operations in question are the production and sale outside the Netherlands of dry powder mixes for creams in cakes. The operations, owned by Friesland Madibic Food Service, a unit of Friesland Coberco, are profitable and generate a turnover of around €11m (US$12.9m), reported Dow Jones International News.