Private equity specialist Accent Equity has reached agreement in principle to acquire all operations and assets of BakeMark Sverige, Swedish subsidiary of Dutch food ingredient producer CSM NV, it said today (Thursday).
Headquartered in Stockholm the company employs approximately 100 people with revenues in 2004 of € 28 million (US$36.1m).
“BakeMark has created a strong position in the Nordic market for bake-off products and bakery ingredients,” said Jan Ohlsson, CEO of Accent Equity Partners. “Together with company management we have identified several distinctive growth possibilities based on organic growth and selective acquisitions.”
“We are looking forward to continue developing BakeMark together with our new owners”, said Bernt Lindberg, CEO of BakeMark. “The market for bake-off products is experiencing rapid growth and we foresee a great potential in expanding our sales to new markets and new product offerings.”