Aryzta A.G. has agreed to acquire Canada-based Pineridge Bakery and U.S.-based Cloverhill Bakery.
March 10/Zurich, Switzerland/Press Release -- Aryzta A.G. has agreed to acquire Canada-based Pineridge Bakery and U.S.-based Cloverhill Bakery for approximately $1.013 billion. Aryzta said it plans to invest an additional 70 million euros in the companies after the transactions are complete.
The two companies had combined revenues of roughly $555 million in 2013 with double-digit revenue growth and margins comparable to Aryzta’s Food Group margins.