Diemen, the Netherlands, December 19, 2007 – CSM 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 USD 35 million (€ 24 million). 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.”
Background information:
CSM 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 and has a workforce of around 8,200 employees in 22 countries. CSM is listed on Euronext Amsterdam.