Royal Cosun announces that it has decided to investigate the potential sale of Unifine Food &Bake Ingredients (Unifine F&Bi), its pastry ingredients business. Cosun has retained ING Corporate Finance as its financial advisor to conduct a comprehensive review of all strategic options, with the aim of optimising the business.
Unifine F&Bi is one of the leading European specialists developing, producing and supplying food ingredients for the Fine Pastry, Food Service, Ice Cream and Industry. Its product range embraces innovative and up-to-date concepts, which include pastry mixes and fillings, cream stabilisers and mousses, fruit fillings, glazes, chocolate, flavourings, fondants, ice cream ingredients, toppings and decorations. With production facilities in Belgium, Germany, Hungary, Portugal, France, the Netherlands and Romania, supported by a network of sales offices throughout Europe, Unifine F&Bi has achieved a strong European market position and has shown robust financial performance.
Based on the strong growth over the past 10 years and attractive growth prospects, Cosun is confident that Unifine F&Bi is now ready to take the next step in its evolution. Cosun will take into account the interest of all stakeholders and on that basis will look for the best options to facilitate the growth strategy of Unifine F&Bi.
Albert Markusse, a Cosun board member and General Manager of Suiker Unie, stated in Agrarisch dagblad Cosun wants to focus on activities close to farming. He mentioned Suiker Unie, Aviko and Sensus as examples of such activities. Since Nedalco and SVZ have comparable production processes, these companies offer good synergy. Unlike Unifine, which is a different type of company according to Markusse.
Markusse also says Cosun is in contact with potential buyers of Unifine F&Bi.
Unifine Food &Bake Ingredients had a turnover of 140 million euro. Turnover of all Cosun companies was 1.7 billion euro.
