Aryzta finalizes strategic German takeover

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The Klemme buy was cleared on April 9
The Klemme buy was cleared on April 9
Switzerland-based bakery firm Aryzta has finalized its €280m ($476m) takeover of German frozen bakery specialist Klemme.

All regulatory clearances have been received and were cleared on April 9.

The buy is set to enable Aryzta to capitalize on the growth in frozen bakery across Europe – a sector that grew an estimated 4% in 2011 and pulled in sales totalling $1.5bn, according to Euromonitor International.

It will also provide a stepping stone to move into big retail given increased exposure to large German supermarkets, Aryzta said.

Related topics: Business, Cereals and bakery preparations

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