Speciality bakery giant Aryzta has agreed a deal to sell 100% of its bakery business in the US and Canada.
ADVERTISEMENT
Speciality bakery giant Aryzta has agreed a deal to sell 100% of its bakery business in the US and Canada for $850m (€710m), the company has announced.
On Friday evening, Aryzta said it had agreed a deal with US private equity firm Lindsay Goldberg to sell all of its equity and assets in its bakery businesses in the US and Canada.
Aryzta said it expects the transaction to be completed by the end of this year.
ADVERTISEMENT
“This agreement represents a significant inflection point for Aryzta and vindication of our simplification strategy to the outright sale option.
“The transaction delivers significant debt reduction and balance sheet strength. It now allows us to focus on delivering further operational improvements and returning to organic growth,” said Aryzta’s interim chief executive Urs Jordi.
Aryzta, which owns the iconic Cuisine de France brand, will report half-year results on Monday.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Speciality bakery giant Aryzta has agreed a deal to sell 100% of its bakery business in the US and Canada for $850m (€710m), the company has announced.
On Friday evening, Aryzta said it had agreed a deal with US private equity firm Lindsay Goldberg to sell all of its equity and assets in its bakery businesses in the US and Canada.
Aryzta said it expects the transaction to be completed by the end of this year.
“This agreement represents a significant inflection point for Aryzta and vindication of our simplification strategy to the outright sale option.
“The transaction delivers significant debt reduction and balance sheet strength. It now allows us to focus on delivering further operational improvements and returning to organic growth,” said Aryzta’s interim chief executive Urs Jordi.
Aryzta, which owns the iconic Cuisine de France brand, will report half-year results on Monday.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS