Swiss supplier Aryzta acquire baked goods companies

Aryzta AG, a Swiss supplier of bakery products to supermarkets and restaurants, said it will acquire two US -- based businesses for $1.08 billion, adding 30 factories in nine countries and doubling production capacity. The purchases of Fresh Start Bakeries, for $900 million, and Great Kitchens, for $180 million, will boost earnings per share by about 20 per cent in the first year of ownership, the Zurich -- based company said in a statement on its website today.

The acquisitions are the biggest since Aryzta’s formation in 2008 through the merger of Ireland’s IAWS Group Plc and Switzerland’s Hiestand Holding AG. The company said today it’s “well capitalized” to make further acquisitions and increased its forecast for full -- year earnings per share.