Speciality bakery group Aryzta reported half year sales of €1.7bn and organic sales growth of 0.7%.
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Speciality bakery group Aryzta is understood to be lining up the sale of its UK logistics business for a price tag believed to be in the region of £20m (€23m).
According to reports in the UK, accountancy firm KPMG is advising Aryzta on the potential sale. Talks are ongoing with a number of interested buyers.
In the last 18 months, the company has sold its La Rousse foods business for €30m, its Cloverhill business in the US for €20m as well as offloading its 50% share in a flatbreads business for about €34m
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Aryzta, the company behind the Cuisine de France brand, has been selling off non-core assets as part of Project Renew, the company’s multiyear turnaround plan, which aims to refocus Aryzta on its core business of B2B frozen bakery and reduce its net debt position, which stood at €811m in early 2019. In the last 18 months, the company has sold its La Rousse foods business for €30m, its Cloverhill business in the US for €20m as well as offloading its 50% share in a flatbreads business for about €34m.
In March, Aryzta reported half-year sales of €1.7bn and organic sales growth of 0.7%. Aryzta CEO Kevin Toland, described the results as the ‘first step’ for the company to deliver on its multi-year turnaround plan.
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Speciality bakery group Aryzta is understood to be lining up the sale of its UK logistics business for a price tag believed to be in the region of £20m (€23m).
According to reports in the UK, accountancy firm KPMG is advising Aryzta on the potential sale. Talks are ongoing with a number of interested buyers.
In the last 18 months, the company has sold its La Rousse foods business for €30m, its Cloverhill business in the US for €20m as well as offloading its 50% share in a flatbreads business for about €34m
Aryzta, the company behind the Cuisine de France brand, has been selling off non-core assets as part of Project Renew, the company’s multiyear turnaround plan, which aims to refocus Aryzta on its core business of B2B frozen bakery and reduce its net debt position, which stood at €811m in early 2019. In the last 18 months, the company has sold its La Rousse foods business for €30m, its Cloverhill business in the US for €20m as well as offloading its 50% share in a flatbreads business for about €34m.
In March, Aryzta reported half-year sales of €1.7bn and organic sales growth of 0.7%. Aryzta CEO Kevin Toland, described the results as the ‘first step’ for the company to deliver on its multi-year turnaround plan.
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