€385m deals boost Aryzta

IRISH-SWISS bakery group Aryzta saw its share price jump by more than 5% yesterday on the back of announcing three significant international development deals, with a combined value of €385 million.

The Dublin-headquartered group — established two years ago by the merger of IAWS and Zurich-based company, Hiestand — has done the deals, via subsidiary companies, that will see it considerably increase its presence in Canada, Brazil and Asia.

Fresh Start Bakeries (FSB), the US company which Aryzta bought for $900m (701m) in June, is in the process of completing a €36m investment in three bakeries in Asia (Taiwan, Singapore and Malaysia) as well as constructing a new bakery in Brazil. The bakeries will service an unnamed international QSR (quick service restaurant) operator currently expanding in the relevant markets.