CHR. Hansen Completes Sale of Sweetener Division
MILWAUKEE - (June 16, 2006) – Grace Matthews announced today that Chr. Hansen has completed the sale of its sweetener division to American Sugar Refining, Inc. which markets its products through Domino Foods, Inc. Grace Matthews, a Milwaukee-based investment bank, advised Chr. Hansen on the transaction.
“This transaction was about finding the right strategic buyer and demonstrating synergies. The Sweetener Division expands Domino’s existing offering of specialty sweetener products and adds production capacity with two facilities located in Gretna, Louisiana and Calumet, Illinois,” said Grace Matthews Managing Director Tim Oleszczuk.
David R. Carpenter, President and CEO of Chr. Hansen in North America described the process of reviewing Hansen’s business strategy after their acquisition by PAI partners last year: “Our business strategies focus on growth and we realized that sweeteners are not within our core product areas. Thus, we decided to divest the Sweetener Division and further strengthen our expertise in developing and supplying cultures, dairy enzymes, natural colors, and flavors.”
Operating from facilities in thirty countries worldwide, Chr. Hansen is a global biotechnology company that provides ingredients to the food, dairy, human health and nutrition, and animal health industries. Based on intensive research, Chr. Hansen works to improve the quality of food and health for people all over the world. The company is a primary supplier of cultures, probiotics, enzymes, colors, flavors, seasonings, and tablet coatings and excipients, which are applied in foods and beverages, pharmaceuticals, dietary supplements, and agricultural products.
For more information about Chr. Hansen, please visit www.chr-hansen.com.
ABOUT GRACE MATTHEWS
Grace Matthews, Inc. is a Milwaukee-based investment bank that provides merger, acquisition, and corporate finance advisory services to public and private companies. Grace Matthews’ principals have successfully completed over 100 transactions on behalf of clients ranging from private, middle market companies to large foreign and U.S.-based multi-nationals. For more detailed information on Grace Matthews, Inc., visit www.gracematthews.com.
ABOUT AMERICAN SUGAR REFINING, INC.
American Sugar Refining, Inc. based in Yonkers, New York, is the largest cane sugar refiner in the United States. Its products are marketed by Domino Foods, Inc. which offers a full line of sugar products under the Domino®, C&H® and Florida Crystals® brands.
CONTACT:
Tim Oleszczuk
timo@gracematthews.com
Tammie Miller
tmiller@gracematthews.com