RABOBANK ADVISES CSM
IN ACQUISITION OF BEST BRANDS
Gold sponsors
of Anne Frank exhibition
The Netherlands
New Zealand
Rabobank and Rothschild recently acted as
sole advisor to Dutch food group CSM, a core
cliënt of Rabo Securities and of Rabobank
International Food Agri Corporates, on its
USD 510 million takeover of US-based bakery
manufacturer Best Brands. As the largest
supplier of bakery products worldwide, CSM
produces and distributes an extensive range
of bakery products and ingredients for artisan
and industrial bakeries and for in-store as well
as out-of-home markets. Best Brands is one of
the largest premium bakery manufactures in
the US market and has a leading position in
value-added frozen products sold to in-store
bakeries.
The acquisition of privately owned Best Brands,
which is subject to regulatory approval, fits
with CSM's strategy to target growth in the
in-store bakery market. Best Brands is well
positioned in segments and product catego-
ries that CSM's North America operations has
targeted for future growth. 'This acquisition
will strengthen our ability to deliver organic
growth in the North American market in parti-
cular," CSM's Chief Executive Gerard Hoetmer
said, and it ensures that the company is well
positioned to provide its customers with a
broad selection of premium bakery products.
Best Brands broad product portfolio includes
laminated dough, cakes, muffins, fillings and
mixes. It serves food service customers and
retail and wholesale bakeries through its
three distribution centres. The company has 6
major production facilities across the United
States, and is headquartered in Minnetonka,
Minnesota.
From left to right: Anne Frank Exhibition organiser Boyd Klap with New Zealand
Prime Minister, The Hon John Key and new Rabobank Regional Manager,
Australia New Zealand, Thos Gieskes at the official opening.
issue 23 RI WORLD
Rabobank New Zealand, an ongoing sponsor of the New Zealand
Netherlands Foundation (which was set up in 1990 to foster co-
operation and links between these two countries), is supporting the
foundation's latest exhibition about Anne Frank's life. "Rabobank
is proud to be a gold sponsor of this internationally acclaimed
exhibition, which is on loan from the Netherlands," said Ben Russell,
Rabobank General Manager, New Zealand.
Anne Frank and her family fled from Germany to Amsterdam to
escape the Nazis and the exhibition tells the history of World
War II and the Flolocaust through her experiences. The exhibition
opened at the National Museum of New Zealand Te PapaTongarewa
in Wellington and will tour the country.
New Zealand Prime Minister John Key opened the exhibition on 10
February, in front of 200 guests of the New Zealand Netherlands
Foundation, including a number of senior Rabobank managers.
The following evening, Rabobank held a dinner and private viewing
which was attended by the Executive Committee and over 100
selected clients and guests.
Best Brand^Corp.
