The Danish emulsifier specialist procured the majority of the shares of the Paraná-based supplier of special ingredients, premixes and bakery emulsifiers in December 2016.
Since its launch in 2008 by Cassandro Rufino, Candon has been steadily growing its market share in the Brazilian bakery industry.
According to Palsgaard CEO Jakob Thoisen, the company has been following the development of the Brazilian ingredients specialist since 2014 and has been impressed by its capabilities, especially its cake emulsifiers.
“The Brazilian bakery sector is looking for innovation and we believe that by adding Palsgaard’s know-how, we’ll have an opportunity to further develop the product range of Candon and ultimately expand sales to both North and South America,” he explained.
Rufino will remain a minority shareholder and retain his position as CEO of Candon, which will operate under the name Palsgaard Candon S.A.
Celebrating a milestone
Palsgaard A/S is celebrating is centenary this year and is scheduled to extend its operation by opening new centers in China, the US, Russia and Iran.
The company currently operates large scale application centers in Denmark, Mexico and Singapore where food technologists develop products based on the company’s emulsifiers for the bakery, confectionery and dairy industries.