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Aryzta s third quarter revenues dip by 3 5%
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Aryzta North America (ANA) has changed its name to Aspire Bakeries to reflect the positive direction it is firmly focused on.
Following the sale of ANA for $850m to private equity firm Lindsay Goldberg in March, the business unit of the embattled company is determined to cement its position as a major supplier to the retail, foodservice, convenience and QSR sectors.
The company s three core brands have recently innovated with new offerings: Otis Spunkmeyer launched a hybrid version of its muffin loaves and introduced frozen edible cookie dough; Oakrun Farm Bakery, which until now has only served the Canadian markets, introduced a Cinnamon & Maple Belgian Waffles in Walmart stores across North America; and La Brea Bakery expanded its Take & Bake portfolio to six flavours, also available nationwide in grocery stores and on Amazon Fresh.
Dive Brief:
Brynwood Partners VIII L.P. has acquired frozen pancake, waffle, and French toast maker De Wafelbakkers from The Oklahoma Publishing Company, a subsidiary of the Anschutz Corp., according to a press release. Terms of the deal were not disclosed.
Based in North Little Rock, Arkansas, De Wafelbakkers has a 100,000-square-foot manufacturing facility there and a 98,000-square-foot facility in McDonough, Georgia. It has approximately 650 employees.
Brynwood Partners is a private-equity firm with a large portfolio of food and beverage brands, including breakfast names. De Wafelbakkers originated in the Netherlands and expanded to North America 35 years ago. Many of its frozen breakfast items could prove popular for those who are enjoying the meal at home during the pandemic.
Dive Brief:
Private equity firm Lindsay Goldberg is acquiring Aryzta North America, a business-to-business frozen baked goods manufacturer serving the U.S. and Canada, from parent company Aryzta AG for $850 million, the companies said in a statement.
Aryzta North America targets the quick-service restaurant, foodservice and retail markets. It offers 1,500 products under branded and private labels like Otis Spunkmeyer, Oakrun Farm Bakery and La Brea Bakery.
The parent company announced in December it would shed some of its Latin and North American businesses while simultaneously focusing on the European and Asia-Pacific markets.
Dive Insight:
Aryzta North America s sale continues what has been an active period for the bakery operator. Its recent history has been a rollercoaster complete with rumors about a potential takeover, a high debt level, falling sales and leadership changes at its parent company. Switzerland- and Ireland-based Aryzta AG’s overall business has been str
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