ZURICH, SWITZERLAND — Two acquisitions completed this year were major factors in Aryzta Food North America posting 30.5% revenue growth in the first quarter ended Oct. 31.

Acquisitions, including Pineridge Bakery and Cloverhill Bakery, contributed 31.2% of the Food North America revenue growth while currency contributed 2.5%. Underlying revenue growth declined by 3.2% as Food North America revenue came in at €475.5 million ($589.7 million) in the quarter. A stock-keeping unit (s.k.u.) rationalization process in North America continues to aim at freeing up capacity for larger customers and optimizing medium-term margin delivery

Companywide, total Food Group revenue was €937.8 million ($1,163.1 million) due to 17.8% growth, Zurich-based Aryzta AG said when giving results Dec. 2. Underlying revenue growth increased by 0.5%.