CSM Ingredients launches €245M term loan for Investindustrial buyout

CSM Ingredients will hold a lender call on Jan. 27 to launch a €245 million seven-year Term Loan B. UBS is physical bookrunner on the deal.

Investors have been asked to submit commitments by Feb. 9.

The new term loan, which will carry six months of 101 soft-call protection, will be used to support Investindustrial's buyout of the firm.

Investindustrial announced its carve-out of the CSM Ingredients business from CSM Bakery Solutions Europe Holding BV in October 2020. The business manufactures and distributes bakery ingredients, such as bread mixes, pastry mixes, bakery fats, and glazes, mainly to pastry and bakery shops and industrial firms. CSM Ingredients operates in Germany, Italy, France, the U.K. and Benelux, with a growing presence in China and Asia. It has eight manufacturing facilities and generates revenue of roughly €500 million, according to the sponsor’s announcement of its acquisition.