Palsgaard acquires Brazilian ingredients firm
Food emulsifier Palsgaard has acquired a majority stake in Brazilian food ingredients company Candon Aditivos para Alimentos.
Since 2008, Candon has been supplying a range of special ingredients, premixes and bakery emulsifiers to the Brazilian food industry.
Jakob Thoisen, CEO at Palsgaard, says, “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.”
Candon founder Cassandro Rufino will continue as a minority shareholder and CEO of the business. The company name will be continued under the name Palsgaard Candon S.A.