Private equity firm Lion Capital has refused to be drawn on reports that it is selling a stake in Swiss bakery group ARYZTA through Credit Suisse.

It is understood Lion Capital is selling up to 5% of its stake in the company, which represents the company’s entire holding in Aryzta.

Both Lion Capital and Credit Suisse declined to comment on the reports when contacted by just-food.

Shares in Aryzta were down 15.23% to CHF30.05 (US$26.24) at 15.04GMT today (15 April).

As well as Aryzta, Lion Capital has invested in companies including Findus, Youngs, The Seafood Company and Kettle.