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Dawn Foods intends to acquire Unifine

30 March 2011
Dawn Foods, Jackson, Michigan USA and Royal Cosun, Breda, the Netherlands have announced their intention for Dawn Foods to acquire the Unifine Food & Bake Ingredients business.
 
Unifine is one of the leading European specialists in developing, producing and supplying value-added pastry ingredients. This intended transaction includes all seven Unifine manufacturing sites, ten sales offices in Europe and the brands of Sucrea, Fruibel, Caullet and Dethmers.

Carrie Jones-Barber, CEO of Dawn Foods commented on Unifine Group’s excellent fit as a strategic product platform, its alignment with geographic market priorities, and the many talented Unifine team members, all of which are highly complementary to Dawn’s global foot print. “The deep commitment to customer service and product quality that Dawn and Unifine share will help ensure the continued success of both organizations,” said Carrie Jones-Barber.

Robert P. Smith, President & CEO of Royal Cosun adds: “We decided to divest our fine bakery operations as these do not fit in our core strategic focus which is on the processing of arable crops. Based on the strong growth over the past 10 years and attractive growth prospects, Cosun is confident that Unifine is now ready to take the next step in its evolution as a part of a strategic world player.”
 
Dawn Foods President of Global Commercial and International, Laurence Saul stated the intended acquisition provided significant benefits to both Dawn and Unifine. “This intended acquisitionprovides our team members, customers, joint venture partners and suppliers with global market access through the Dawn Foods family network. We are confident that the intended sale of Unifine to Dawn will provide the business a new perspective by combining expertise and customer knowledge to enable long-term growth opportunities.”

The intended transaction is subject to the approval of the relevant competition authorities and completion of the consultation procedures with the relevant works councils and the trade unions in accordance with the SER Merger Code. Parties envisage that the transaction will be concluded in the second quarter of 2011.