CSM Sells Swedish Subsidiary Through Global M&A Partners
07 April 2005
CSM has sold its BakeMark Sweden subsidiary to Accent Equity Partners through the assistance of Global M&A partners Solveigh Corporate Development, the Netherlands and Arctos Mergers & Acquisitions, Sweden. Accent will take over all the operations of BakeMark Sweden, including the factory in Fagersta and the head office in Stockholm. BakeMark Sweden has a turnover of approximately EUR 28 million. The sale fits in with CSM Bakery Supplies Europe’s strategy to focus on a number of core countries. After the acquisition, BakeMark will carry on as the exclusive distributor of CSM’s products in Sweden and Norway.
BakeMark is a Nordic market leader within manufacturing and distribution of bake-off products. In addition the company has a strong position within distribution of bakery ingredients. BakeMark is active in Sweden, Denmark, Finland and Norway.
“BakeMark has created a strong position in the Nordic market for bake-off products and bakery ingredients,” says 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. As a financial owner, we will contribute additional resources in order to position the company as a pan-Nordic market leader within the bake-off industry with an ambition to take active part in the consolidation of the Nordic bake-off market.”
CSM is a listed global producer and distributor of bakery products and food ingredients having its headquarter in The Netherlands. CSM’s main product groups include bakery ingredients and products, lactic acid and lactic acid derivatives, and sugar. With these activities CSM has an annual turnover of EUR 2.8 billion and a workforce of approximately 9,500. CSM operates in Europe, the United States, Canada, Brazil, and Asia. More info: www.csm.nl
CSM Bakery Supplies Europe concentrates on the development, production and sale of a wide range of bakery ingredients and products for professional bakers and the bake-off market. The European market for bakery ingredients and business-to-business bakery products has an estimated value of € 8.5 billion. With a market share of 12% CSM Bakery Supplies Europe is regarded as the market leader in Europe with number-1 positions in Germany, Italy, the UK, and France.
Accent Equity Partners is a leading lower mid-market private equity specialist investing in buyout and later-stage expansion capital transactions in the Nordic region. Since the mid-nineties, the Accent team has advised six funds and carried out more than 50 investments and 30 exits. Accent Equity Partners is presently advising funds with committed capital of more than €500 million of which approximately €175 million is currently available for new investments. Accent's investment strategy is to purchase controlling equity interests of EUR 5 - 30 million in companies with a total enterprise value of EUR 10 -100 million with a clear potential for value creation through revenue growth, operational improvements, increased financial efficiency and beneficial strategic positioning. More info: www.accentequity.se
Global M&A is an international partnership of independent advisory firms specialised in cross border transactions. In a seamless joint effort, Solveigh Corporate Development and Arctos arranged the successful sale of CSM’s Swedish subsidiary. Solveigh Corporate Development is the exclusive Dutch member of Global M&A, Arctos is the Swedish exclusive Global M&A partner.
For more information:
Solveigh Corporate Development, Ernst Jan Kruis, +31 651 420975 - ejkruis@solveigh.nl
Arctos Mergers & Acquisitions, Thomas Karlsson + 46 8 545 321 53 - thomas.karlsson@arctos.se
