FDBusiness.com

Zurich-based food group Aryzta, which is a global leader in speciality bakery, has raised SFr174.3 million (Eur144 million) through a share placement with a limited number of institutional investors. The proceeds from the placing will be used to strengthen Aryzta’s balance sheet and for general corporate purposes.

Created in 2008 by the merger of Dublin-based IAWS Group and Hiestand Holding of Switzerland, Aryzta has a primary listing on the SIX Swiss Stock Exchange and a secondary listing on the Irish Stock Exchange. In Europe Aryzta has a mixture of business to business and consumer brands, including Hiestand, Cuisine de France, Delice de France and Coup de Pates. Aryzta had revenues of Eur2.85 billion for the year ended July 31st 2011.