Swiss bakery company Jowa has acquired regional peer Hug Bäckerei, a manufacturer of fresh and frozen bread and pastry products.
Jowa, the bakery arm of Swiss food manufacturer and retailer Migros Group, will integrate Lucerne-based Hug as a subsidiary, which will continue to operate as an independent company under its own name. All 153 jobs will remain.
Until 2015 Hug was part of the Bäckerei-Konditorei group, which retains a minority share in the business.
Jowa said the takeover of Hug, which supplies retail and foodservice customers, would strengthen its position in central Switzerland with regional products. No financial details of the deal have been disclosed.
With more than 3,000 different products and an annual production quantity of more than 166,000 tonnes, Jowa is one of the biggest food producers in Switzerland, employing more than 3,000 people.
Jowa’s facilities include 11 bakeries across Switzerland, a hard wheat mill, a pasta factory, a gluten-free products site and around 100 regional in-store bakeries.