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Aryzta

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ARYZTA AG
Company typeAktiengesellschaft
SIX: ARYN
Template:Ise
ISINCH0043238366
IndustryFood
Founded1897
HeadquartersZurich, Switzerland
Key people
Gary McGann, (Chairman)
Kevin Toland, (CEO)
ProductsBakery products
Revenue€3,797 million (2017)[1]
–€808 million (2017)[1]
–€906 million (2017)[1]
Websitewww.aryzta.com

ARYZTA AG /æˈrɪztə/ is a food business based in Zurich with operations in the Americas, Europe, Asia, Australia and New Zealand. It is incorporated in Switzerland and has listings on the SIX Swiss Exchange (the Zurich Stock Exchange) and the Irish Stock Exchange. The group has a leadership position in the speciality frozen bakery sector and is a global supplier of baked goods to the foodservice, retail and quick service restaurant sectors.

History

The company was founded as the Irish Co-Operative Agricultural Agency Society in January 1897 and renamed the Irish Agricultural Wholesale Society ('IAWS') in December 1897. It was first listed on the Irish Stock Exchange in 1988 and for most of the 1990s the company was managed by Philip Lynch, first as chief executive officer and later chairman.[2] It bought Shamrock Foods in 1989, R&H Hall in 1990 and Cuisine de France in 1997.[3] It went on to buy Delice de France in 1999, La Brea Bakery in 2001, Groupe Hubert in 2005 and Otis Spunkmeyer in 2006.[3]

In June 2007, it spun off its agribusiness activities as Origin Enterprises plc.[4] It merged with Hiestand Holding AG in August 2008 and, having changed its name to ARYZTA, commenced trading on the SIX Swiss Exchange and the Irish Stock Exchange on 22 August 2008.[4] The new name derived from Latin arista, which referred to the apex or awn of a wheat grain.[5]

It bought Honeytop Speciality Foods in September 2011.[6]

In 2013, it acquired Klemme AG, a German manufacturer of frozen bakery products, for €280 million.[7]

In 2014, ARYZTA acquired Pineridge Bakery in Canada and Cloverhill Bakery in the US for a total of €730 million.[8]

In 2015, it acquired the Hungary-based Fornetti group which has operations in central and eastern European markets.[9]

On February 1, 2018, ARYZTA announced that it had sold the Big Texas and Cloverhill brands to Hostess Brands.[10]

As of August 2018, the company was struggling to cope with a heavy debt burden, a period of over-expansion, and a prolonged heat wave in Europe. Its market value fell from 6 billion euros in 2014 to 694 million euros in 2018.[11]

Operations

ARYZTA is known for its Delice de France range of French-style bread-based products and its higher end of Artisan Breads available from La Brea Bakery.[3] Other brands include Shamrock Foods, Cuisine de France and Hubert.[3] Aryzta is particularly known for providing McDonald's burger buns.[11] Aryzta operates 53 bakeries & kitchens across Europe, North America, South America, Asia, Australia and New Zealand.[7] Aryzta refers to itself as one of the largest frozen bakery companies in the world.[12]

Logo of the former IAWS Group

References

  1. ^ a b c "Financial Statements 2017" (PDF). Archived from the original (PDF) on 14 September 2018. Retrieved 14 September 2018.
  2. ^ "Philip Lynch does it his way". The Independent. 13 February 2005. Retrieved 22 December 2012.
  3. ^ a b c d "The quiet man". The Independent. 14 August 2010. Retrieved 22 December 2012.
  4. ^ a b "Aryzta may sell stake in Origin Enterprises". Irish Examiner. 27 June 2008. Retrieved 22 December 2012.
  5. ^ O'Halloran, Barry. "Agenda: Aryzta looking for dough as bakery business falls flat". The Irish Times.
  6. ^ "Switzerland's ARYZTA buys Honeytop Speciality Foods". Food Manufacture. 26 September 2011. Retrieved 22 December 2012.
  7. ^ a b "Aryzta acquires frozen bakery firm Klemme". BakeryAndSnacks.com. Retrieved 28 January 2016.
  8. ^ "Aryzta acquires Pineridge and Cloverhill bakeries for €730m". BakeryAndSnacks.com. Retrieved 28 January 2016.
  9. ^ "Swiss ARYZTA buys Hungarian Fornetti". Budapest Journal. 6 August 2015. Retrieved 28 January 2016.
  10. ^ "Hostess Acquires Aryzta Breakfast Brands". CSP Daily News. Retrieved 10 May 2018.
  11. ^ a b "McDonald's Buns Maker Is In a Kitchen Nightmare". Bloomberg. 13 August 2018.
  12. ^ Dan Malovany (2015-01-26). "Aryzta: Behind the scenes". Food Business News. Retrieved 2015-10-05.
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