CSM completes Best Brands acquisition
March 22, 2010
by Josh Sosland
TUCKER, GA. — CSM Bakery Supplies North America on March 19 said it had completed the acquisition of Best Brands Corp. effective immediately. According to CSM, the majority of the Best Brands business will be integrated into its Tucker-based H.C. Brill division.
With the acquisition, the CSM Bakery Supplies North America business will have annual sales topping $2.3 billion.
Completion of the $510 million cash transaction follows expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
Best Brands manufactures and distributes frozen products sold to in-store bakeries. Its product portfolio includes laminated dough, cakes, muffins, fillings and mixes. In addition to supplying in-store bakeries,
Best Brands serves food service customers and retail and wholesale bakers through its three distribution centers. Best Brands markets products with the Multifoods brand. The company has six major production facilities across the United States and is headquartered in Minnetonka, Minn.
“Best Brands is well positioned in segments and product categories that CSM B.S.N.A. has targeted for future growth,” CSM said.
CSM described the Best Brands product portfolio and customer base as complementary to that of H.C. Brill. The distribution business of Best Brands will be folded into BakeMark, CSM’s bakery distribution arm in North America.
“CSM’s intent is for the integration to be seamless to our customers,” CSM said. “The newly formed organization will offer a broader product portfolio of best in class products.”
Founded in 1971, Best Brands has 1,580 employees.