Royal Steensma
Squarefield acted as exclusive financial advisor to Royal Steensma on the sale to Dawn Foods
On January 31, 2024, the shareholder of Royal Steensma (or the “Company”) entered into a definitive agreement to sell the Company to Dawn Foods, a global bakery manufacturer and ingredients supplier. With the transaction, two family-owned companies with long bakery heritage join forces.
Royal Steensma, a renowned bakery ingredients manufacturing company headquartered in Leeuwarden, the Netherlands, has a broad bakery product portfolio and specialises in fat-based coatings (Souplesse), almond and confectionary pastes, bakery mixes, fruit fillings as well as infused and candied fruits and decorations. Royal Steensma has been a leader in the bakery market for almost 185 years.
With the acquisition of Royal Steensma, Dawn Foods strengthens its strategic position in Europe, whilst further complementing its global product offering. The acquisition includes four manufacturing plants in the Netherlands, a manufacturing facility in Thailand, and continued involvement with the Food Innovation Academy (FIA) education center in the Netherlands. Additionally, all Royal Steensma employees are now valued team members of Dawn Foods.
The sale of Royal Steensma was overseen by Squarefield, a leading Food & Agri focused corporate finance advisor with offices in Amsterdam, Frankfurt, and Antwerp.
Royal Steensma
Royal Steensma is a professional and innovative family-owned company specialised in the production of high-quality ingredients and tasty semi-finished products for retail, bread-, pastry-, chocolate- and ice cream industry. The Company produces products under the brand of Royal Steensma and private label. The production locations are based in Leeuwarden, Franeker, Elst and Vlaardingen (the Netherlands) and one in Thailand for the processing of fruits for the candied products. Royal Steensma is one of the bigger players in the bakery industry in the Netherlands and active nationally and internationally. The Company currently employs 310 employees.
Alfred Bruin - Owner of Royal Steensma“Dawn Foods’ century of bakery expertise, long-term vision, commitment to company values, and sincere dedication to team members, customers, and suppliers were the determining factors in entrusting Royal Steensma to Dawn Foods. Additionally, Dawn Foods has the same creative entrepreneurial spirit of a family-owned company, which gives me the confidence that the essence of the family business will be safeguarded, providing a promising future with numerous new opportunities for our loyal and valued employees and customers.”
“I am thankful for Squarefield’s long-term support and the dedicated assistance from all team members during all stages of the process in which the team clearly demonstrated their in-depth knowledge of the bakery ingredients sector. The lines of communication were short and efficient, which gave me comfort during this difficult process. Squarefield’s industry expertise, persistence and focus were indispensable in achieving a successful outcome of the transaction.”
Dawn Foods
Dawn Foods is a global bakery manufacturer and ingredients supplier and has established itself as the premier bakery service provider. Committed to delighting its customers around the world, Dawn Foods delivers the partnership, insights, innovations, products, and bakery expertise that empowers them to achieve their aspirations. Headquartered in Jackson, Michigan, Dawn Foods partners with more than 50,000 artisanal and retail bakers, food service leaders and manufacturers located in more than 100 countries and has 3,800 team members globally.
Carrie Jones-Barber – Chief Executive Officer Dawn Foods“We are proud to welcome the team from Royal Steensma to Dawn Foods and to build on our shared bakery knowledge and history of providing incredible products to bakers all around the world. The expansion of our manufacturing capabilities and product portfolio further strengthens our mission to provide customers with bakery solutions that truly inspire and help them achieve their business goals.”