Amsterdam / NL. (csm) Dutch food group CSM NV has reached agreement on the sale of QA Products in Elk Grove Village, Illinois (USA) to Kerry Group, an international manufacturer of food ingredients and flavors. The transaction was completed on December 18, 2007. QA Products annual sales amount to approximately 35 million USD (24 million EUR). All 165 employees will be transferred to the new owner.
QA Products is a leading manufacturer of decorations for the bakery and food industry. Reinoud Plantenberg, member of the CSM Board of Management and responsible for Bakery Supplies North America comments: «The sale of QA Products is in line with our strategy to further focus on core activities and growth markets. Within Kerry Group, QA Products will be offered new opportunities to develop in specific markets».
About: CSM NV is the largest supplier of bakery products worldwide and is global market leader in lactic acid and lactic acid derivatives. CSM produces and distributes an extensive range of bakery products and ingredients for artisan and industrial bakeries and for out-of-home markets. It also produces a variety of lactic acid applications for the food, chemical and pharmaceutical industries. CSM operates in business-to-business markets throughout Europe, North America, Brazil, and Asia, generates annual sales of 2,4 billion EUR and has a workforce of around 8.200 employees in 22 countries.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- LG Chem and ADM: Joint Ventures in Illinois are canceled
- Wendy’s: Company plans to expand into Europe
- Delivery Hero: may face significant fine due to antitrust violations
- Emmi Group: intends to acquire Mademoiselle Desserts
- AB Foods: announces strong H1-2024 performance
- DSM-Firmenich: Queen Maxima inaugurates new dual head office
- RBI: Announces Investments to Drive Growth in China
- Europastry S.A.: puts its IPO process on hold
- McCormick: Reports Second Quarter Performance
- Reborn Coffee: Closes Master License Agreement for UAE
- General Mills: Reports Fiscal 2024 Fourth-Quarter Results
- SunOpta expands plant for processing plant-based beverages
- Britannia: Operating profit grew 10 percent in FY-2023
- Tate + Lyle and CP Kelco to merge to leading global player
- Ülker Bisküvi: announces Q1-2024 financial results
- Europastry: intends to go public on the Spanish stock exchange
- Europastry S.A.: publishes 2023 Annual Report
- Swisslog: announces new Americas region headquarters
- Reborn Coffee: Expanding Omni-Channel Strategy
- Mondelez International and Lotus Bakeries Join Forces