CSM expands in UK

- Last updated on GMT

Related tags: Netherlands, Dutch people, Csm

Dutch food group CSM has acquired UK-based Readi-bake from the US
group Country Home Bakers for €28 million.

Dutch food group CSM has acquired UK-based Readi-bake from the US group Country Home Bakers for €28 million.

With annual sales of approximately €22 million, Readi-bake, which produces American-style cookies, will become part of CSM Bakery Supplies Europe.

CSM, a leader in ingredients and convenience products for the bakery sector, said in a statement this week that the Readi-bake acquisition would "considerably strengthen its position in the British market for sweet treats".

According to the Dutch company, the activities of Readi-bake fit perfectly with Arkady Craigmillar, a supplier of bakery ingredients within this CSM division.

The acquisition - financed through the use of existing credit lines - is effective from this week and will immediately contribute to CSM's earnings per share.

Readi-bake employs 80 personnel and operates a purpose built factory located in Milton-Keynes, UK.

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