Cosun is seeking to sell Unifine, which makes value-added pastry ingredients, as the unit "no longers belong to Cosun's core business focusing on processing arable crops."
The proposed transaction is expected to close in the second quarter, subject to regulatory clearance.
Unifine generates annual sales of 140 million euros ($198.2 million) with about 500 employees. The company has production facilities throughout the Netherlands and other six European countries, as well as 10 sales offices.
From the April 4, 2011, Prepared Foods E-dition