Private equity firm Investindustrial completed the acquisition of the ingredients business of Rhone Capital-backed CSM Bakery Solutions, a supplier of bakery ingredients, frozen and ambient bakery products, for $1bn. "CSM Ingredients is a leading player across Europe, with a growing international presence, over 400 salespeople and strong coverage of the region. This is a unique opportunity to become a long-term owner of a sizeable panEuropean platform in the stable but still fragmented food ingredients sector. It is an ideal platform from which to pursue M&A-led growth and organically diversify further into higher value add ingredients and higher growth regions, including Italy and China," Andrea C. Bonomi, Investindustrial Chairman of Industrial Advisory Board.