CSM to acquire Harden Fine Foods
April 15, 2008
by Eric Schroeder
DIEMEN, THE NETHERLANDS — CSM n.v. announced it has reached agreement to acquire Harden Fine Foods for £6.4 million ($12.6 million). Founded in 1988, Harden Fine Foods supplies mini-bite flapjacks, brownies and cakes to in-store bakeries and out-of-home market segments. The company has production facilities in Bradford, Yorkshire, 210 employees and annual sales of approximately £11 million.
"The acquisition of Harden Fine Foods, along with the acquisition of Kate’s Cakes in the U.K. last year, enforces CSM’s position in the sweet treats and American style bakery products in Europe," said Gerard Hoetmer, chief executive officer of CSM.
CSM increased its presence in the premium baked foods market last August by acquiring Kate’s Cakes in West Sussex, United Kingdom, for £20.5 million plus the assumption of £12 million in debt.
Kate’s Cakes supplies premium cakes, muffins, cookies and desserts to the food service and out-of-home market segments and has annual sales of about £23 million. Kate’s Cakes operates a production facility and employs 470.