CSM takes next steps in bakery divestment

25 October, 2012

CSM Global has announced an Information Memorandum will be sent out to a select number of potential buyers of its Bakery Supplies business, from today.

The firm today revealed a drop in sales volume of 5.6% for its Bakery Supplies Europe (BSEU) business, and of -2.8% for its Bakery Supplies North America (BSNA), in the third quarter.

For the year-to-date BSEU has seen total sales revenue up 2.5% to €823.4m (£664.89m), while volumes have dropped 4.1%, while BSNA has seen a 10% increase in sales revenue to €1,318.9m (£1,064m), and a drop of 3.1% in volume on the comparable period in 2011.

The Information Memorandum will include both historical and forward-looking statements, which CSM said show consistent sales growth for the Bakery Supplies business for the “next few years”.

Gerard Hoetmer, chief executive of CSM, said: “In Europe, the consumer trend to switch to lower-priced sales channels continued in the bakery market, impacting our artisan business.

“In line with their strategy, Bakery Supplies Europe is successfully targeting growth in the out-of-home and in-store bakery channels, while sales in Continental Europe benefited from the experience and know-how of our UK and US activities in these areas. However, this growth could not mitigate the impact of declining volumes in the artisan market, where our objective is to further improve our market shares.”





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