Fri, 26 Oct 2012 | BUSINESS SALE
The sale of bakery group CSM has started to gather pace, with potential buyers set to receive more detailed information about the firm.
Included in the sale is the European and American Bakery Supplies business, which incorporates the Bakemark plant in Wirral.
The sale was first mooted in May of this year and confirmed earlier this month but a sale is not on the cards until early 2013. With this broad date in mind, the firm this week (25 October) began marketing the company to potential buyers.
A statement from CMS read: “The strategic transformation of CSM is developing according to plan with the information memorandum regarding the Bakery Supplies activities being sent out to selected potentially interested parties.
“The information memorandum includes both historical and forward-looking information. The forward-looking statements for the business intended to be sold show consistent sales growth for the Bakery Supplies business for the next few years, at least in line with expected growth of the bakery markets.”
Whoever moves in to buy the business looks set to enjoy some ongoing levels of growth, with reports already showing that sales and profits rose in the third quarter of the year. Turnover stood at £672 million, up six per cent on the same quarter last year, while the EBITDA profit, excluding one-off costs, came to £32.5 million – up a third on 2011.
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