Dutch food group CSM has announced the completion of its acquisition of US bakery supplies manufacturer Carpro.
The acquisition will immediately contribute to CSM’s earnings per share in the 2003 calendar year. The total price of the acquisition was US$302m.
The two main operating companies of Carpro are H.C. Brill and Caravan Products with total annual sales of approximately US$300m. Brill employs 670 personnel and has four factories, three of which are based in Georgia and one in Utah.
Caravan operates two factories located in New Jersey and employs 280 staff. Brill and Caravan will continue to operate as operationally autonomous companies within CSM Bakery Supplies North America.
CSM said the relevant authorities have cleared the transaction.
With the addition of Carpro, CSM said its Bakery Supplies North America unit will generate annual sales of approximately US$1.4bn.