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The Kings who would have been king
By Brian Murphy
Special to Page 2
And to think, The Cooler this morning was going to be so drenched in World
Cup talk, I d have had you heading your Dixie Cups into the trash basket and
pressing the SAP button on your remotes every chance you got. I had even
recruited some Koreans and Japanese to form an official Cooler Cheering Squad, just like they re doing at the Cup. I d handed out jerseys for my Cooler Cheering Squad to wear UCLA basketball s home whites and had them paint their faces. Instead of those hilariously nonsensical Swedish flags or German flags on those stone-faced, uninterested hosts of the World Cup, I d painted tiny pints of Guinness.
Aryzta revenue rebounds in third quarter Company also announces appointment of new CFO
about 4 hours ago
Swiss-Irish bakery group Aryzta said its revenue returned to growth in the third quarter, with organic revenue from continuing operations rising 1.4 per cent.
Total revenue was €621.9 million for the three month period, up 6.2 per cent on a constant currency basis and 3.5 per cent lower when currency movements were taken into account.
Revenue in Europe was €302.9 million for the quarter ended May 1st, up 0.6 per cent. When the impact of foreign exchange was taken into account, revenue was down 0.3 per cent.
Aryzta’s rest of the world revenue was €58.5 million, up 14.1 per cent on a constant currency basis and 11.6 per cent when the foreign exchange movements were accounted for. The disposal of the US assets were completed during the quarter, earlier than expected, with revenue from continuing operations up 2 per cent to €361.4 million.
Aryzta North America (ANA) has changed its name to Aspire Bakeries to reflect the positive direction it is firmly focused on.
Following the sale of ANA for $850m to private equity firm Lindsay Goldberg in March, the business unit of the embattled company is determined to cement its position as a major supplier to the retail, foodservice, convenience and QSR sectors.
The company s three core brands have recently innovated with new offerings: Otis Spunkmeyer launched a hybrid version of its muffin loaves and introduced frozen edible cookie dough; Oakrun Farm Bakery, which until now has only served the Canadian markets, introduced a Cinnamon & Maple Belgian Waffles in Walmart stores across North America; and La Brea Bakery expanded its Take & Bake portfolio to six flavours, also available nationwide in grocery stores and on Amazon Fresh.
Aryzta completes sale of North American business Deal included La Brea, Otis Spunkmeyer and Fresh Start bakeries
about 7 hours ago
Swiss-Irish bakery group Aryzta said it has completed the sale of its North American business in the USA and Canada to an affiliate of US private equity firm Lindsay Goldberg.
The transaction, which had a price tag of $850 million (€706 million), has been completed early, with initial estimates putting the completion date before the end of July.
Chairman and interim chief executive of Aryzta, Urs Jordi, welcomed the early conclusion of the deal, saying it allowed management to fully focus on following through on the delivery of improved business operational performance and returning to organic growth.