Swiss food company Aryzta has entered into an agreement to acquire Klemme, a leading bakery in Germany, for EUR280m, as part of a strategy to strengthen its presence in the region.
Klemme, established in 1991, operates seven bakeries with multi-product manufacturing capabilities and has 1,400 employees. Its products include an assortment of bread rolls and ciabattas, croissants, sweet and savoury pastries, doughnuts and pretzels. Klemme posted €229m in revenues for the fiscal year ended 31 December 2012.
The acquisition is expected to significantly transform Aryzta's European manufacturing footprint and enhance its channel diversification and product capability in the region. It will also strengthen the company's capabilities and allow it to refocus on its strategy in Europe by growing market share in all consumer channels.
Aryzta stated that the transaction, which includes a €10m deferred payment, will be funded with the help of existing financial resources.
On completion of the deal, Aryzta will become a leading bakery player in the German in-store bakery sector and a partner manufacturer for European retailers in the specialty bakery sector.
Aryzta owns bakery brands including Delice de France, Otis Spunkmeyer, La Brea Bakery and Groupe Hubert among others. The company is known for its Cuisine de France range of French-style bread-based products and artisan breads.
