DutchNews.nl - CSM takes over American bakery firm

CSM takes over American bakery firm

Friday 05 February 2010

Bakery products group CSM is taking over American peer Best Brands for $510m (€370m) in cash, the company said on Friday.

The acquisition makes CSM 'undisputed market leader in the North American bakery supplies market with total sales in excess of $2.3 bn,' the Dutch firm said in a statement.

The US firm produces frozen pies, bread and pastry and has a workforce of over 1,600.

CSM said in August it had a war chest of up to €300m to finance acquisitions.

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Readers' comments

Yes!!!!! The bakery firm will improve ten times more! Lets face facts, the Dutch are the best at baked goods and business! This will create more jobs for sure!

By sandra | February 6, 2010 6:02 AM

I didn't know that was a "fact". I thought it was an "opinion".
I sure don't like Dutch baked goods.

By CW | February 8, 2010 7:20 AM

I agree cw, if you're looking for flavour in bread & not a long shelf-life, Turkish bread takes the biscuit...

And yes Sandra, plenty of dough to create lots more LOW paid jobs!

By stevie | February 8, 2010 12:50 PM

Actually, we are not low paid in the bakery industry. The question is, will this create jobs, or will those of us that work for Best Brands keep our jobs????

By Best Brands Employee | February 9, 2010 8:35 AM

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