Multifoods develops formulations for pastry mixes, laminated dough and muffins, including dry mixes, batter, frozen and ready-to-bake doughs. The terms of the agreement include two of Multifoods' factories, located in Elyria, Ohio and Spartanburg, South Carolina.
According to Jim Parker, BakeMark’s president and CEO, increased customer demand coupled with the company's strategy to grow its ingredients business created the need for the acquisition.
"Adding the Multifoods brand and facilities will help us better support our customers and industry partners and help us meet our goal of driving success,” he said.
David Lopez, Multifoods' director of marketing, added: “Multifoods is a perfect fit into our exclusive portfolio of the industry's finest brands.”
BakeMark has three manufacturing plants - in California, British Columbia and Alberta - producing baking ingredients under the brand names Westco, BakeSense, Best Brands and Spinkelina.
BakeMark was acquired by Pamplona Capital Management from CSM Bakery Solutions in August 2017.