CSM Bakery Solutions has reached an agreement for the sale of its BakeMark business to Pamplona Capital Management.
Based in California, BakeMark provides distribution services through a network of 25 distribution centres and three manufacturing facilities in the US and Canada. It offers a diversified line of products, ingredients and supplies to the food industry under brands such as Westco, Trigal Dorado and BakeSense.
The sale is a move by CSM to focus on its core business in Europe and North America and its value-added bakery products.
BakeMark CEO Jim Parker said: “We are excited to be partnering with Pamplona for the next stage of BakeMark’s growth. As an independent company with the support of Pamplona, BakeMark is ideally positioned to continue providing customers with quality products and full-service distribution capabilities.”
William Pruellage, a partner at Pamplona, said: “We believe BakeMark is well positioned to succeed as a stand-alone entity and capitalise on new growth opportunities.
“We look forward to supporting Jim Parker and the rest of the company’s exceptional management team to build on its long history of providing trusted and valuable service to the food industry.”
Pamplona Capital Management manages $15 billion in assets for a variety of clients, including public pension funds, international wealth managers and multinational corporations.
The terms of the deal were not disclosed.
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