Lesaffre Yeast has added a new consumer yeast brand to its North American portfolio with the acquisition of Stranks Management and its subsidiaries.
As a result of the deal, Lesaffre Yeast corporation, a subsidiary of Paris-based global yeast producer Lesaffre et Compagnie, will acquire the Bakipan consumer brand of yeast products, sold in retail markets in both Canada and the United States.
Terms of the transaction were not disclosed.
Lesaffre Yeast is the former Red Star Yeast division of US flavours and colours company Sensient Technologies. The French company bought the division in early 2001 for €1 million.
With a turnover of €1.0 billion in 2001, the Lessafre group is one of the top 20 food groups in France.