Baked goods giant lists on stock markets

Source: Exec Digital Ireland

Date :8/22/2008 6:07:02 AM

ARYZTA AG, the merged company of IAWS and Hiestand, starts trading on the Dublin and Zurich stock markets today.

The merger was announced in June, for around CHF4 billion, approximately €2.5 billion.

The two businesses have had a five year partnership, with IAWS owning strategic shares in Hiestand. IAWS had to reach a separate agreement with Lion Capital for its 32 percent share in Hiestand. An agreement was reportedly reached for 12.7 million new shares and €30 million in cash.

Global markets

IAWS, best known for brands Delice de France and Cuisine de France, had markets in Ireland, the UK, Europe, Canada and the US, while Hiestand covered markets in Europe, Malaysia, and Japan.

Combined, these give ARYZTA a “geographical reach extending from North America through eastern and western Europe to South East Asia and Australia," according to Owen Killian, Chief Executive of IAWS.

Both companies are “pleased to announce the creation of ARYZTA AG ('ARYZTA'), the global leader in value added baked goods.”