The sale comes as part of CSM’s plans to streamline its business in Europe and North America. QA Products’ annual sales are $35 million, and the division’s 165 employees will transfer to the new owner, according to CSM’s publicly released statement.
"The sale of QA Products is in line with our strategy to further focus on core activities and growth markets. Within Kerry Group, QA Products will be offered new opportunities to develop in specific markets," said Reinoud Plantenberg, member of the CSM Board of Management who oversees Bakery Supplies North America.
CSM reorganized its bakery supplies business in Europe earlier this year by consolidating operations in Germany and France. In the U.S., CSM transferred its H.C. Brill production in Lancaster, N.Y. to other CSM Bakery Supplies North America facilities. It also acquired scone and pastry bakery Titterington’s of Woborn, Mass. in a $23 million deal.
CSM claims to hold second place in the North American bakery ingredients market, through its 7 percent share of the total $21 billion market.