CSM Bakery Solutions intends to sell BakeMark business
Global bakery ingredients manufacturer CSM Bakery Solutions (CSM) has expressed its intention to sell its BakeMark subsidiary.
BakeMark provides product distribution services through a network of 25 distribution centres across the US and Canada.
Based in Pico Rivera, California, BakeMark delivers a wide range of ingredients to the food industry under the Westco, Trigal Dorado and BakeSense brands.
The company explained that the sale of BakeMark is in line with its strategy, and will enable them to focus on their core business in Europe and North America.
CSM president and CEO Marianne Kirkegaard said: "Since its formation in 1998, BakeMark has operated as a free-standing distribution company and, in that time, built a strong and successful heritage.
"This divestiture will allow us to grow our business in Europe and North America by focusing on our value-added bakery products and ingredients portfolio and allow BakeMark, under new ownership, to further strengthen their already strong capabilities and reputation as the industry's supply and distribution market leader in North America."
BakeMark now operates as a standalone entity, after it was separated from CSM’s core business few weeks ago.
Kirkegaard added: "In BakeMark, we have an experienced leadership team that will do very well under new ownership. This is the ideal time to make that happen."
CSM appointed investment banking group Harris Williams for this divestiture.