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