Candon produces a number of food ingredients, including emulsifiers for cakes. © Candon
Emulsifier specialist Palsgaard has acquired a majority stake in Brazilian food ingredients company Candon Aditivos para Alimentos.
Candon is a supplier of a range of special ingredients and premixes, as well as a series of bakery emulsifiers, to the Brazilian food industry.
The transaction was completed in December but has been announced today. The Danish-based business didn’t disclose any financial details of the transaction.
Its CEO, Jakob Thoisen, said: “Palsgaard has been following the development of Candon since 2014 and have been impressed by the company’s capabilities, especially within cake emulsifiers. We strongly believe that by adding Palsgaard knowhow, we’ll have an excellent opportunity to further develop the product range of Candon and ultimately expand sales to North and South America via Palsgaard’s sales network to the benefit of both companies.”
Candon founder Cassandro Rufino will continue as a minority shareholder and as CEO of the company, while the business name will be carried forward as Palsgaard Candon.
Palsgaard CEO Jakob Thoisen said it was ‘an excellent opportunity’ to grow Candon’s product range and expand sales.
It follows roughly nine months after Palsgaard reaffirmed its commitment to CO2-neutrality at all of its production plants; the company had achieved the milestone at its facility in Denmark during 2015 by optimising the energy consumption throughout the plant in the form of heat recovery and insulation, converting from heavy fuel oil to biogas, by making use of certified wind power.
It was hoping to roll the initiative out across all of its plants worldwide.
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