Palsgaard announced that it has acquired the majority of the shares of Brazilian food ingredients company Candon Aditivos para Alimentos in December 2016. Since 2008 Candon has successfully been supplying a range of special ingredients and premixes as well as a series of bakery emulsifiers to the food industry in Brazil, which is why the company caught the eye of Danish based emulsifier specialist Palsgaard.
“Palsgaard has been following the development of Candon since 2014 and have been impressed by the company’s capabilities, especially within cake emulsifiers. We strongly believe that by adding Palsgaard know-how, we’ll have an excellent opportunity to further develop the product range of Candon and ultimately expand sales to North and South America via Palsgaard’s sales network to the benefit of both companies”, explains Palsgaard CEO Jakob Thoisen.
Candon founder Cassandro Rufino will continue as minority shareholder and as CEO of the company. The company name will be continued under the name Palsgaard Candon S.A.