CSM today announces that it has reached an agreement to acquire Best Brands, one of the largest premium bakery manufacturers in the US market, for cash consideration of $510 million. The acquisition of Best Brands creates the undisputed market leader in the North American bakery supplies market with total sales in excess of $2.3 billion. The acquisition strengthens CSM’s global leadership position in the segments and product categories that CSM has targeted for future growth, particularly in the in-store bakery market. The transaction, which is subject to regulatory review, is expected to be completed in March 2010.
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