CSM acquires Unilever's Hungarian bakery ingredients business

- Last updated on GMT

Related tags: Europe, Unilever

Dutch-based international food ingredients company CSM has reached
an agreement with Unilever on the acquisition of its bakery
ingredients business in Hungary.

Dutch-based international food ingredients company CSM has reached an agreement with Unilever on the acquisition of its bakery ingredients business in Hungary.

The value of the acquisition, which will be effective as of 31 May 2003, is €5.1 million.

The acquisition covers Unilever's sales activities in fats and other bakery ingredients and products in Hungary, which are sold to wholesalers and industrial and artisan bakers.

The business in question generates an annual turnover of more than €13 million.

The deal could be potentially very lucrative for CSM. Unilever is the largest supplier of bakery fats to the Hungarian market, and provides a range of products mainly under the Meister label.

Unilever's activities will be combined with the business operations of CSM Bakery Supplies Europe in Hungary and will operate under the name BakeMark Magyarország.

As part of the deal, 12 employees are to be transferred from Unilever to CSM.

"This acquisition will broaden our product portfolio in the region and enable us to build on our existing market position in Hungary and neighbouring Central European countries,"​ said Jaap Vink, chief executive of CSM​.

"This is an increasingly important area for us now that countries such as Hungary are about to become full member of the EU."​ The acquisition will be financed from readily available cash resources.

Related topics: Ingredients

Related news

Show more

Related products

show more

Know your Ethnic Dairy Opportunities

Know your Ethnic Dairy Opportunities

DuPont Nutrition & Biosciences | 05-Dec-2018 | Technical / White Paper

Global consumers often look for something new from the yogurt category and products with a good story. In Western markets, this demand is driving a trend...

Accelerate your supply chain as pressures intensify

Accelerate your supply chain as pressures intensify

William Reed | 19-Sep-2018 | Technical / White Paper

Food, Drink and Non-Food manufacturers are under pressure. Range reviews, massive retail mergers, the backlash against plastic packaging and the ongoing...

GLOBAL PREFERENCES: TEXTURANTS PLAY A KEY ROLE.

GLOBAL PREFERENCES: TEXTURANTS PLAY A KEY ROLE.

Tate and Lyle | 16-May-2018 | Technical / White Paper

Texture is a matter of taste, and that’s true on a global scale as well. What appeals to consumers in Italy might turn off those in Indonesia. As formulators,...

Related suppliers

Follow us

Featured Events

View more

Products

View more

Webinars