Aryzta has said talks are continuing about the future of its Immekath production plant in northern Germany, operated by subsidiary Fricopan, but the Swiss bakery group said it could not comment on reports the factory is set to be closed by the end of August.
An Aryzta spokesperson told just-food: “We have not issued any statement as we are in discussions with our works council, as we are legally obliged to do, and cannot comment until the outcome of these discussions are known.”
Go deeper with GlobalData
Fricopan is one of the largest suppliers of frozen bakery products in Germany including French-style bread products for the wholesale, foodservice and retail sectors, in addition to producing private-label goods for retailers. Around 500 staff are understood to be employed at the Immekath site.
Fricopan acquired the Immekath factory in 1996 and transferred all production to the site following the closure of a facility in Garching, near Munich, in 2001. In 2008, Fricopan became part of the Aryzta group.
Last month, Aryzta said it had “identified the potential for group-wide efficiencies and cost reduction initiatives”. However, the company did not provide details. The announcement came as Aryzta missed analyst expectations for organic growth in its third quarter but confirmed its forecast for full-year earnings. The company said its underlying revenue grew 0.9%. Consensus analyst forecasts had expected underlying sales to grow 1.5%. Total revenue in the quarter to the end of April fell 2.4% to EUR949.8m (US$1.06bn).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
