CSM to sell frozen bread operations in France
June 01, 2007
by Eric Schroeder
DIEMEN, THE NETHERLANDS — CSM n.v. reached agreement with Neuhauser to sell the frozen bread operations of CSM’s French subsidiary Delices de la Tour, which is located in Maubeuge, France. The transaction, which is expected to be completed shortly, is valued at approximately €7.7 million ($10.3 million), excluding inventories, CSM said. Sales of the frozen bread operations are approximately €15 million, CSM said. Neuhauser is a leading French producer of frozen bakery products. In January, CSM reached agreement with Panavi to sell beignets and frozen viennoiseries production activities of Delices de la Tour in Le Mans, France.