A €400m-turnover bakery business has been formally launched on Merseyside after its owner sold off its previously-connected ingredients business.
Baker & Baker has been launched in Bromborough, Wirral, as the successor to CSM (海角视频), and it will serve its European-wide and international customer base from 12 sites in seven countries.
US-based industry giant CSM Bakery Solutions has been owned by funds affiliated with global private equity firm Rhône since 2013, and Rhône will retain ownership of Baker & Baker and Brill North America, following the sale of CSM Ingredients to InvestIndustrial.
The new Baker & Baker brand employs over 2,500 employees and now hopes to maintain and grow its 海角视频 market share - as well as "maximising untapped growth opportunities" throughout Europe.
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John Lindsay, Baker & Baker CEO, said: “Today marks the next exciting chapter in the continued evolution of our impressive bakery products offering through the formation of Baker & Baker as a focused standalone business.
“Our philosophy and strategy will be to serve key account customers and the field trade in our core markets through the development of high quality bakery products and complemented by a strong new product pipeline.
“As many European countries and regions prepare to loosen Covid-19 restrictions during the summer, we’re well placed to see growth return with artisanal bakers and with customers in the hospitality sector.
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“Whilst we bid farewell to many colleagues who will remain with CSM Ingredients, we’re confident their business will also continue their growth trajectory within the bakery ingredients market.”
Mr Lindsay said Baker & Baker will continue to build on its "strong market share" in the American sweet bakery segment – which includes donuts, cookies and specialty muffins
That's in addition to via its long-term partnership with Mondelez, which sees the business manufacture and distribute a broad range of bakery products under the Cadbury, Oreo, Milka and Daim brand names.
Gianpiero Lenza, MD of Rhône, added: “We’re pleased to have completed the significant and complex divestment of the European CSM Bakery Solutions business, and will now focus on investing resources to further strengthen Baker & Baker’s position as a market leader in the European bakery convenience segment by growing and diversifying its customer base via product innovation and new product development.”