IRELAND/SWITZ: Aryzta commences trading
The merger of Hiestand and IAWS has drawn to a close, with the combined entity beginning to trade on the Swiss and Irish exchanges under the new company name, Aryzta, today (22 August).
The merger, which was first announced on 9 June, will see the creation of a baked goods company with total revenues of around EUR2.3bn.
The name Aryzta comes from the Latin Arista, meaning the apex of an ear of wheat.
Specialist bakery group Aryzta today (1 December) posted a 32% rise in first-quarter revenue and said the company continues to have a "strong balance sheet with excellent free cash flow"....
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