Merger of IAWS Group plc and Hiestand Holding AG to Create ARYZTA AG
The boards of IAWS Group, plc ('IAWS') and Hiestand Holding AG ('Hiestand') have announce the creation of ARYZTA AG ('ARYZTA'), which they say will be the global leader in value added baked goods.
IAWS also announces that it has reached agreement with Lion Capital (“Lion”), subject only to anti-trust clearance, for the acquisition of Lion’s 32% stake in Hiestand in exchange for 12.7 million new shares in IAWS and €30 million in cash.
IAWS is an international lifestyle food and agri-nutrition company with operations in Europe and North America. The lifestyle food business focuses on niche high quality growth segments of the value added bakery and convenience food market. Origin Enterprises plc (“Origin”) which consists of the group’s agri-nutrition and ambient food businesses was successfully listed in 2007. IAWS is the majority shareholder in Origin and consolidates its results.
Hiestand, founded in 1967 in Switzerland, is a leading European value added bakery and convenience food company focusing on the high quality growth segment of the market. With its innovative products and services it holds strong market positions in Switzerland and Germany and has fast growing operations in Eastern Europe, Asia and Australia.
IAWS operates in North America, the UK, Ireland and France while Hiestand’s main operations are in Switzerland, Germany, Austria, Poland, Malaysia, Japan and Australia.
IAWS also announces that it has reached agreement with Lion Capital (“Lion”), subject only to anti-trust clearance, for the acquisition of Lion’s 32% stake in Hiestand in exchange for 12.7 million new shares in IAWS and €30 million in cash.
IAWS is an international lifestyle food and agri-nutrition company with operations in Europe and North America. The lifestyle food business focuses on niche high quality growth segments of the value added bakery and convenience food market. Origin Enterprises plc (“Origin”) which consists of the group’s agri-nutrition and ambient food businesses was successfully listed in 2007. IAWS is the majority shareholder in Origin and consolidates its results.
Hiestand, founded in 1967 in Switzerland, is a leading European value added bakery and convenience food company focusing on the high quality growth segment of the market. With its innovative products and services it holds strong market positions in Switzerland and Germany and has fast growing operations in Eastern Europe, Asia and Australia.
IAWS operates in North America, the UK, Ireland and France while Hiestand’s main operations are in Switzerland, Germany, Austria, Poland, Malaysia, Japan and Australia.
