FDBusiness.com

Aryzta Makes Strategic Investments in North America, Latin America and Asia

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

Aryzta Makes Strategic Investments in North America, Latin America and Asia

Aryzta Makes Strategic Investments in North America, Latin America and Asia
August 13
13:15 2010

International speciality bakery group Aryzta is acquiring Tim Horton’s 50% share in Maidstone Bakeries, a Canadian joint venture between Aryzta and Tim Horton, for C$475m (Eur349m). The Maidstone facility was designed, constructed and commissioned in partnership with Tim Hortons, the leading quick service restaurant (QSR) in Canada, in 2002 to 2003.

The purpose built 400, 000 sq ft bakery based in Ontario helped transform the Tim Hortons business as its restaurants were subsequently able to produce freshly baked goods across all parts of the day. Maidstone will continue as a strategic supplier to Tim Horton’s restaurants but Aryzta will be in a position to fast track growth from its manufacturing capability in North America by using Maidstone to serve the dynamic QSR segment.

Owen Killian, chief executive of Aryzta.

Maidstone has the capability to produce a broad range of products including sandwich carriers, handheld snacks, and breakfast products both sweet and savoury to meet the demands of the QSR industry. Maidstone generates an annualised EBITDA of C$67m (Eur49m) at its estimated 55% current capacity utilisation.

With 100% ownership Aryzta will be able to market Maidstone’s spare capacity across all its customer channels with a particular focus on its recently expanded customer base following its acquisition of Fresh Start Bakeries in the US. The increased capacity utilisation will unlock value for Aryzta from its investments in Maidstone which will total Eur409 million after purchase of the Tim Horton stake.

Investment in Brazil and Asia

Separately, Aryzta’s US subsidiary, Fresh Start Bakeries, is in the process of completing an investment in three bakeries in Asia (located in Taiwan, Singapore and Malaysia) and will commence the construction of a new bakery in Brazil. These bakeries will principally service a leading international QSR operator that is expanding in these regions. The investment by Fresh Start Bakeries is expected to total about US$48m (Eur36m).

“Aryzta highly values its relationship with Tim Hortons and welcomes the opportunity to enhance the value of Maidstone Bakeries which complements our recent investments in North America. These investments significantly enhance our bakery capability in North America and in the emerging QSR growth regions of Latin America and Asia,” comments Owen Killian, chief executive of Aryzta.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements