Puratos to acquire Dawn Foods

Puratos and Dawn Foods have entered into a “definitive agreement” in which Puratos will acquire the bakery manufacturer and ingredients supplier. 

The acquisition brings together two companies that have developed “distinct and complementary capabilities,” says a press release, with both serving retailers, professional bakers, pastry chefs and food manufacturers by translating consumer trends and insights into ingredient solutions. 

The terms of the transaction were not disclosed.

"The agreement reflects a major long-term step for Puratos," said the company's CEO Pierre Tossut. "The agreement shows our ambition to further expand our footprint and capabilities within a space we know well, understand deeply and have successfully developed over generations."

Both Belgium-based Puratos and U.S.-based Dawn Foods are family-run companies that have each been operating for more than a century. Both are also global players with operations in Canada.

READ: Puratos Canada opens innovation centre in Quebec

"As we looked to the future, it was important to find a partner aligned with our values and our long-term view of the business," said Dawn Foods' CEO Carrie Jones-Barber in a release. 

The deal, which is subject to regulatory approvals, is expected to wrap up by the end of the year.