SWITZ/UK: Lion Capital snaps up Hiestand stake
UK-based private equity group Lion Capital has bought a 32% stake in Swiss bakery group Hiestand.
The private equity firm, which owns UK cereal business Weetabix, said today (21 February) that it had bought 170,000 shares in the business for an undisclosed sum.
Lyndon Lea, a partner at Lion Capital, said the firm backed the management's strategy and was a "long-term strategic investor" in the business.
"Hiestand is a leading player in the most attractive sub-sector of the bakery market," Lea said.
Speculation has surrounded Hiestand in recent days, with shares in the company tumbling yesterday on rumours that Focus Capital, another investor in the business, was looking to sell its stake in the company.
Officials at Focus Capital and Hiestand could not be reached for comment as just-food went to press.
With food firms of all sizes feeling the pinch from commodity prices, it would be easy to see the merger between bakery groups IAWS and Hiestand as a way of better absorbing rising costs. However, in ...
The merger between Irish food group IAWS and Switzerland's Hiestand edged one step closer today (4 August) when the anti-trust authorities of Poland, Germany and Ireland approved the deal....
Shareholders of Irish bakery group IAWS have voted overwhelmingly in favour of the proposed merger with Swiss baker Hiestand, the company has revealed....
Irish food and agribusiness group IAWS has moved a step closer to its planned merger with Swiss baker Hiestand after Swiss regulatory authorities cleared the deal....
IAWS, the Ireland-based bakery group, has today (4 July) insisted that its offer to buy out the remaining shareholders in Swiss firm Hiestand is "fair and reasonable"....
just-food was at the CIES World Food Business Summit this week where many of this week's most-read stories emanated from. Elsewhere, we have seen IT problems for Sainsbury and the latest updates on Te...
Food safety is one of the industry's most contentious issues and the tomato salmonella outbreak sweeping the US proved that this week. Advertising, another often controversial subject, also proved pop...
Irish food and agribusiness group IAWS is to merge with Switzerland's Hiestand Holding to create a EUR2.7bn (US$4.3bn) baked goods company, Aryzta....
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- General Mills sales woes continue - analysis
- Comment: Meal kits in US - don't believe the hype
- Analysis: Chocolate sector's deforestation pledge
- Kraft Heinz cuts jobs in US, Canada
- Post Holdings 'close to acquiring Weetabix'
- Mondelez set for union crosshairs next week
- Mondelez plays down impact of union action
- Recipe-kit firm HelloFresh launches into UK retail