date:May 08, 2012
616 million and suffered a 30% loss in profits on the previous year.
The company said thatthe economic downturn and volatile raw material prices had hit its bakery supplies business and it anticipates further consolidation in the bakery supplies market that would require investment. It has chosen to focus instead on its bio-based ingredients businesses.
Divestments
The businesses up for sale, which include Cragmillar and BakeMark, recorded combined sales of 2.4bn and EBITDA of 128m.
Fun