Swiss group to increase global presence

- Last updated on GMT

Related tags: United states, North america

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 Executive.

Related topics: Manufacturers

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