SAF-USA- Corporation Buys Sensient's Red Star Yeast Division

SAF(USA), a wholly owned subsidiary of Lesaffre et Compagnie, the world's largest yeast company, today announced the purchase of the assets of Red Star Yeast from Sensient Technologies Corporation.

Minneapolis-based SAF(USA) has supplied the U.S. bakery market for more than 20 years. Through the acquisition, SAF(USA), the market leader in dry yeasts, will significantly expand its presence in the important fresh yeast segment.

``The merger will create the leading company in the $500 million U.S. yeast industry. The combined Red Star/SAF(USA) business will have a strong national network of plants delivering quality yeast products to bakery, food, agriculture and nutriceutical markets,'' said SAF(USA) CEO John N. Riesch.

``This acquisition demonstrates our commitment to and faith in the growth of the U.S. baking industry. We are excited about the opportunities the merger presents. Red Star has been a legendary name and leader in the U.S. baking industry for more than 100 years.''

Mr. Riesch said Lesaffre will retain the Red Star name and the company's 350 employees in Milwaukee, Baltimore and Oakland, California, combining them with SAF(USA)'s Dothan, Alabama facility.

The combined Red Star/SAF(USA) business will have sales of nearly $200 million plants in four states and around 500 employees.

Lesaffre, founded in 1853, is a privately owned company with 6,000 employees and sales in 185 countries. It invests heavily in research and development and works closely with the international baking industry to develop innovative yeast products and ingredients and to improve the bread making process.

SOURCE: SAF