Milling & Baking News Corporate Profiles - November 2013 - (Page 76)

Company Overview Aryzta AG Acquisition expands Aryzta's baking footprint in North America A ryzta AG, Zurich, Switzerland, expanded its business in North America with the acquisition in late August of Pita Pan Old World Bakery, a Chicago Heights, Ill.-based provider of flat breads and pizza crust to restaurant chains and wholesale bakery customers, according to an Aug. 28 internal documentt. "This is an exciting time for us since bringing Pita Pan into the Aryzta family will expand our capabilities in the growing, on-trend areas of Mediterranean flatbreads, including lavash wraps, pita pockets and flatbread, as well as pizza crust," John Yamin, chief executive officer of the Americas and president and global food officer of Aryzta AG, wrote in the document. "These capabilities will also enable us to meet customer demand for lighter, portable bread options to satisfy health-conscious and busy consumers." Pita Pan has its roots in a Greek restaurant established in 1972 by brothers Andre and Kostas Papantoniou. The eating establishment became the launching pad for Olympia Foods, which offers Greek meat, sauces and baked foods, and for Pita Pan. According to Pita Pan, the company's 100,000-squarefoot baking facility has the capacity to produce more than 1 million pieces per day. Contacted by Milling & Baking News, Aryzta chose not to confirm or deny the acquisition news, but the move was hardly surprising given Aryzta's commitment to developing its Food North America division. Aryzta is an international food company with a leadership position in specialty bakery products. The company was formed in 2008 through the merger of Dublin-based IAWS Group P.L.C. and Hiestand Holding AG of Switzerland. Worldwide, the company has 53 bakeries and kitchens. In North America, Aryzta, before acquiring Pita Pan, had 24 bakeries and kitchens in Canada and the United States. The Food North America division of Aryzta was assembled through IAWS Group acquisitions before the merger and by high-profile acquisitions made by the new company in 2010. The pre-merger IAWS Group North American acquisitions included La Brea Bakery, a leader in the artisan bread movement, which was acquired in 2001, and Otis Spunkmeyer, a U.S. manufacturer known for its frozen cookie dough, muffins and other baked goods, which was acquired in 2006. Other post-merger acquisitions, with the exception of Pita Pan, all were completed in 2010. They included Fresh Start Bakeries, a global supplier of specialty Chief executive officer - Top brands - Fiscal year 2013 revenue - Owen Killian 76 \ November 2013 bakery products with a leading position in the quick-serve restaurant segments; Pennant Foods, a provider of specialty bakery products to the North American quickserve restaurant, food service and retail in-store bakery sectors, and Sweet Life, a baker of sweet baked goods serving the North American and Asian quick-service restaurant sectors. Also acquired in 2010 was Maidstone Bakeries of Canada. EBITA within the Aryzta Food North America division in fiscal year 2013 ended July 31 increased 8% to €190,286,000 ($262,594,680) from €176,291,000 in fiscal 2012. Food North America revenue increased 6% in fiscal 2013 to €1,459,800,000 ($2,014,524,000). Aryzta's annual report noted, "Underlying organic growth in North America was strong, reflecting progress on deepening customer relationships and increased availability of a broader range of products to North American customers. The performance also benefited from stronger consumer spending trends in North America compared with Europe." Food North America accounted for 47% of Aryzta's Food Group's worldwide revenue and 47% of the group's world EBITA in fiscal 2013. CP €4.5 billion ($6.2 billion) La Brea Bakery Otis Spunkmeyer Fresh Start Bakeries Pennant Sweet Life Maidstone Milling & Baking News * Food Business News * Baking & Snack * Meat & Poultry Corporate Profiles

Table of Contents for the Digital Edition of Milling & Baking News Corporate Profiles - November 2013

Milling & Baking News Corporate Profiles - November 2013