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CSM BAKERY SUPPLIES

QUICK FACTS:

  • 18-Property, Global Industrial Food Production Portfoli
    • United States: 11 Propertie
    • Canada: 4 Propertie
    • Germany: 2 Propertie
    • United Kingdom: 1 Property
  • 2.32 Million Square Fee
  • Exclusive advisor to Rhône Group and CSM Bakery Supplie
  • Acquired by US Based Private REIT Angelo Gordo
  • Sale/Leaseback with Varying Term
  • $160 Million USD in Proceeds 

The Situation:

  • Andrew Sandquist and JC Asensio of CBRE are engaged by Rhône Group, a New York City and London based private equity firm to lead a team of 20 professionals to monetize an international portfolio of owned real estate via a sale/leaseback. 

  • Rhône Group was in the initial stages of a complex $1.5 billion recapitalization of their portfolio company CSM Bakery Supplies, a world-wide leader in bakery supplies.

The Challenges:

  • Highly-specialized production facilitie
  • Highly cyclical industr
  • Multi-currency transactio
  • Leveraged buyout credit undergoing spinoffs of its subsidiarie
  • Single-buyer requirement for multi-country portfoli
  • Sale/leaseback transaction executed concurrently with recapitalization of the portfolio compan
  • Operating lease treatment requirement

The Results:

  • A competitive marketing process generated (9) offers for the global portfoli
  • After a fully-vetted selection process, Rhône Capital ultimately selected US based private REIT Angelo Gordo
  • he international sale/leaseback resulted in proceeds of $160 million USD