22 August 2006 - Werhahn Mühlen KG, the flour and bakery ingredients segment of the Werhahn Group, and GBI Holding BV (GBI) announced today the agreement on the sale of GBI's bread ingredients businesses to Werhahn. The transaction will be effective per August 1st 2006 and will include all the Bread Improver and Pastry Ingredients activities of GBI in Europe and the export markets. (not including the Joint venture Uniferm in Germany).
The purchase and sale of the bread ingredients businesses is viewed by both parties as an ideal fit to their individual business strategies. GBI will continue to focus on its core yeast business and the further strengthening of market positions worldwide.
Werhahn Mühlen KG welcomes the GBI bread ingredients businesses into its organization. With leading market positions across Europe the GBI bread ingredients businesses are an excellent addition to Werhahn’s existing bakery ingredients position. Werhahn Mühlen sees perfect synergy in the merged businesses and is impressed by the superior product innovation and excellent customer relationships developed by GBI. The new business will firm under GB Plange. Werhahn Mühlen is particularly keen to pursue the acquisition as part of its plan to expand its international bakery ingredients activities.
Werhahn
Werhahn is a German corporate group with a diverse range of activities operating worldwide with an annual turnover in 2005 of € 1.98 billion and 7486 employees. After the transaction the Baking Supplies Division of Werhahn Mühlen comprises 650 employees with an estimated turnover of more than € 300 million in 2006. The division has business activities across the whole of Europe focused on the manufacture and sale of flour, bread- and pastry-ingredients products to the artisan and industrial European Bakery Market, with plans for investment and growth in these areas.
GB Ingredients
GB Ingredients is one of the world’s top 3 yeast manufacturers (fresh, dry and other yeast) and is a major producer of bread improvers. Well-known brands include Fermipan© (instant dry yeast) and La Parisienne©, Lefersa©, NG & SF© and Koningsgist© (fresh yeast). In 2005, net sales amounted to around € 350 million. GB Ingredients has production facilities worldwide, with major plants in Netherlands (Delft, Dordrecht), Germany (Uniferm joint venture in Werne and Monheim), Italy (Casteggio), Chile (Santiago) and the United Kingdom (Felixstowe). The group employs approximately 1300 people.