Swiss Major Food Co Aryzta Buys Canadian Maidstone Bakeries

 Aryzta  Swiss Major food company  is  strengthen its position in North America through  acquisition route . It has already bought three bakeries in this region

 Swiss food group Aryzta have announced the full purchase of Canadian bakery firm Maidstone Bakeries.

Maidstone had been previously been a 50-50 partnership between Aryzta and Tim Hortons Inc, and will continue to supply the Tim Hortons network until at least 2016.
The deal, worth US $454 million, is Aryzta’s third North American buy-out since early June, when it paid a combined $1.08 billion for Fresh Start Bakeries and Great Kitchens.
The Swiss company also confirmed its U.S. subsidiary was completing investments worth $48 million for bakeries in Taiwan, Singapore and Malaysia - and was building a new bakery in Brazil.
"These investments significantly enhance our bakery capability in North America, as well as in Latin America and Asia," said Owen Killian, Aryzta's Chief

source : www.bakeryandsnacks.com

Aryzta Buys US Bakeries For $1.08Bln

FOOD GROUP Aryzta enjoyed a near 8 per cent climb in its share price yesterday as it announced two new US-based acquisitions that will double its production capacity and expand its global footprint.
The company, which was formed following the IAWS takeover of Swiss baker Hiestand, bought Fresh Start Bakeries for $900 million and the pizza supplier Great Kitchens for $180 million.

Fresh Start operates 29 specialist production facilities across the US, Canada, Germany, Poland, Sweden, Spain, Brazil, Australia and New Zealand and has three joint ventures located in North America, Chile and Guatemala. It makes products not currently supplied by Aryzta, such as burger buns and ciabatta bread.
Great Kitchens is one of the leading pizza manufacturers in North America serving regional and national grocery chains and retail stores with premium quality pizzas and sandwiches.

Both businesses supply to the quick-service restaurant sector, with 70 per cent of sales in North America.
The combined revenue of the two businesses is €1.03 billion, with associated earnings before tax and write-offs of €133 million.
Aryzta, which counts Cuisine de France and La Brea bakery among its brands, raised its outlook for the full year, saying it expects underlying earnings per share to rise due to the new acquisitions.

Source
http://www.irishtimes.com/newspaper/finance/2010/0609/1224272116763.html