Dutch food and biochemicals company, Corbion, has closed the sale of its frozen dough business (located in East Rutherford, New Jersey) to Frodo Baking Company, with immediate effect.
Frodo Baking Company will take over all operations, and is expected to hire most of the employees already working at the frozen dough business.
The sale follows a portfolio assessment conducted by Corbion as part of its 2025 strategy, which was announced in March 2020.
“Being the only (semi-)finished product line delivering to consumer outlets, whereas Corbion is a global leader in ingredients and strong in B-t-B markets, the frozen dough business’s fit with the new strategy was limited,” the company statement read.
“This divestment allows us to further increase our focus on our preservation and functional systems ingredients,” said Corbion’s president of sustainable food solutions, Andy Muller.
“And we can do so in full confidence that our colleagues in the frozen dough business will be better positioned to flourish in this growth market under the new owner, with a clear, singular focus.
“Finally, I would like to thank our colleagues from the frozen dough business for their valuable contribution to Corbion over many years,” he added.
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