Dawn Foods Acquires Bunge Bakery Biz
WHITE PLAINS, N.Y. - Bunge North America's Bunge Foods subsidiary has executed a definitive agreement to sell its bakery business to Jackson, Mich.-based Dawn Food Products Inc., for $76 million.
The sale, which includes the facilities that manufacture, market and sell mixes, frozen dough, syrups and toppings, is expected to close by year-end, pending regulatory approval and customary closing conditions, according to Bunge Foods.
After transaction-related expenses of approximately $2 million, Bunge says it expects to recognize a gain on the sale of approximately $4 million, or approximately $0.04 per fully diluted share.
Dawn Food Products, one of the world's largest bakery manufacturers and distributors of bakery mixes and bases, supplies a complete line of quality mixes, bases, icings, glazes, fillings, frozen dough, par-baked and fully baked products and equipment to the food industry worldwide.
Bunge Foods will continue operations in edible oil processing and packaging.
The sale, which includes the facilities that manufacture, market and sell mixes, frozen dough, syrups and toppings, is expected to close by year-end, pending regulatory approval and customary closing conditions, according to Bunge Foods.
After transaction-related expenses of approximately $2 million, Bunge says it expects to recognize a gain on the sale of approximately $4 million, or approximately $0.04 per fully diluted share.
Dawn Food Products, one of the world's largest bakery manufacturers and distributors of bakery mixes and bases, supplies a complete line of quality mixes, bases, icings, glazes, fillings, frozen dough, par-baked and fully baked products and equipment to the food industry worldwide.
Bunge Foods will continue operations in edible oil processing and packaging.