Aryzta approval reaches completion
05 September, 2005
Swiss bakery Hiestand and Irish group IAWS have completed their merger to become the world's biggest producer of frozen baked goods.
The creation of the new £2bn company Aryzta was initially approved in June, but was then subject to an anti-trust assessment. It was finally completed last month when 91.3% of Hiestand's shareholders agreed the move. Shares in the new company began trading on the Dublin and Zurich stock exchanges on 22 August.IAWS chief executive Owen Killian said: "Aryzta will be the leader in value-added baked goods, serving our 200,000 customers across the globe."