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Corbion N.V. — M&A Activity 2007
Jun 12, 2007
3826_iss_2007-06-12_1133ce58-d1f3-403d-8afd-34347f8c4135.pdf
M&A Activity
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CSM nv Corporate Communications
P.O. Box 349 1000 AH Amsterdam The Netherlands
Nienoord 13 1112 XE Diemen
T +31 (0)20 590 62 16 F +31 (0)20 590 62 17 E [email protected]
Press Release
CSM ACQUIRES TITTERINGTON'S IN US
Diemen, the Netherlands, June 12, 2007 – CSM has reached agreement on the acquisition of Titterington's, based in Woburn, Massachusetts (near Boston) for approx USD 23 million. The acquisition is effective per June 11, 2007.
Titterington's is a successful and leading supplier of Thaw & Serve products like scones, muffins, cakes and pastries to the food service and out-of-home market segments. Titterington's operates a production facility in Woburn and has 190 employees. Sales amount to USD 30 million. This acquisition is an excellent fit with CSM's growth strategy in these segments.
Reinoud Plantenberg, CSM board member and responsible for Bakery Supplies North America, said: "This acquisition gives us a very good stepping stone into the fast growing food service and out-of-home market segments and will therefore create additional value for CSM."
----------------------------------------------------------------------------------------------------------------------- For more information, please contact:
Press: Corporate Communications, tel. +31 (0)20 5906216 Analysts: Ian Blackford, Investor Relations Manager, tel. +31 (0)20 5906349 / cell phone +44 (0)7767 227506
Background information:
CSM nv is a global producer and distributor of bakery products and food ingredients. CSM's main product groups are bakery ingredients and products, lactic acid, and lactic acid derivatives. With these activities CSM generates annual sales of EUR 2.4 billion; it has a workforce of around 8,200. CSM operates in Europe, North America, Brazil, and Asia. For more information: www.csm.nl