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Aryzta closes $1bn US and Canada acquisitions

03-Apr-2014

Aryzta's CEO says the acquisitions will enable strategic growth into new channels
Aryzta's CEO says the acquisitions will enable strategic growth into new channels

Aryzta has completed the acquisitions of Cloverhill Bakery in the US and Canada’s Pineridge Bakery.

The Swiss bakery firm announced its $1bn acquisition spree last month . It finalized the Pineridge buy on March 26 but closed the Cloverhill acquisition yesterday, April 2.

Company CEO Owen Killian told BakeryandSnacks.com at the time that both buys would enable strategic growth.

“These are attractive, recently-invested assets which increase Aryzta’s relevance to a broader range of consumer in more channels, especially convenience channel,” he said.

Pineridge and Cloverhill collectively pulled in revenues of €400m ($554m) in calendar year 2013.

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