Speciality bakery company Aryzta has played down market speculation that it was close to securing the sale of its 49% shareholding in Picard, the French frozen food company. In a statement released this week, Aryzta said it was “evaluating alternatives” for its 49% stake in Picard and reviewing its core business activities.
The announcement comes after shares in Aryzta rose more than 8% in trading last Friday to highs of €33.67, as market speculation mounted that the Swiss-headquartered group was on the verge of selling its shareholding in Picard.
Aryzta said it was not in a position to provide guidance on its performance, given the pace of management transition taking place at the company. The Cuisine de France maker is still in the process of appointing a new senior executive team, following the departures of former chief executive Owen Killian, company CFO and COO Patrick McEniff and John Yamin, chief executive of Aryzta’s American operations, in March.
ADVERTISEMENT
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Speciality bakery company Aryzta has played down market speculation that it was close to securing the sale of its 49% shareholding in Picard, the French frozen food company. In a statement released this week, Aryzta said it was “evaluating alternatives” for its 49% stake in Picard and reviewing its core business activities.
The announcement comes after shares in Aryzta rose more than 8% in trading last Friday to highs of €33.67, as market speculation mounted that the Swiss-headquartered group was on the verge of selling its shareholding in Picard.
Aryzta said it was not in a position to provide guidance on its performance, given the pace of management transition taking place at the company. The Cuisine de France maker is still in the process of appointing a new senior executive team, following the departures of former chief executive Owen Killian, company CFO and COO Patrick McEniff and John Yamin, chief executive of Aryzta’s American operations, in March.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS