IAWS increases stake in Swiss bakery

IAWS Group has bought 56,547 more ordinary shares in Swiss bakery company Hiestand Holdings for €36.6m.

The ISEQ-listed company now controls 32% of Hiestand.

IAWS chief executive Owen Killian said: “Hiestand has proved to be an excellent investment for IAWS and the continued strong performance of the company has encouraged us to raise our shareholding.

“We have no current plans to further increase the level of this investment.”