Aryzta Ireland & UK has expanded its speciality bread manufacturing plant at its Grange Castel bakery in Dublin to capitalise on the growing demand for sourdough.
Mexican bakery giant Grupo Bimbo posted a 66.9% increase in fourth quarter net profit, along with a 74.7% bump up for FY 2021 to reach 15.9 billion pesos ($78m).
Chairman and CEO Daniel Servitje said the Mexican bakery giant had experienced ‘very good results in terms of volumes, pride reputation and revenue growth management initiatives’ across all its markets in Q3 2021.
The Swiss-Irish group continues to simplify its business model with the sale of its Brazilian operations to Grupo Bimbo SAB de CV. Its aim to rebuild as a bakery leader in Europe and Asia has also been given a boost with a new €500m revolving credit facility.
The Swiss-Irish baked goods group has hired Houlihan Lokey and Alantra to help it offload some of its unwanted assets, including its underperforming North American unit.
Mexican bakery giant Grupo Bimbo, Hostess Brand, Japan’s Yamazaki Baking and Flowers Foods are reportedly among those still circling as possible buyers for the beleaguered Swiss-Irish frozen baked goods group.
Feeding America estimates that an additional 17.1 million people could face hunger in the next six months because of the pandemic, increasing the urgent need for food assistance. Meanwhile, the outbreak has placed a strain on companies like Aryzta, but...
Private equity firm Swander Pace Capital has added to its growing portfolio of baked foods businesses with the acquisition of Canadian bakery Bäckerhaus Veit for an undisclosed amount.
