SCHLIEREN, SWITZERLAND — Aryzta AG announced it has more than doubled its manufacturing capacity in Malaysia by exercising its option to acquire the bakery, equipment and corresponding land of its co-manufacturer De-Luxe Food Services from Envictus International Holding Ltd. in an asset deal. Financial terms of the transaction were not disclosed.
As part of the transaction, Aryzta said it will expand its Asian product capability in bread, buns and pastries, including new product filling capacity, which the company said will greatly enhance the pace of new product development and innovation.
“We are pleased to report on our strategic expansion in the growing Asian bakery market,” said Urs Jordi, chairman and interim chief executive officer of Aryzta. “This expansion is strengthening our relevant position in foodservice and QSR in this region. Our work on inflation price recovery is on track while continuing to focus on disciplined cost management to deliver improved performance.”Also in connection with the deal Aryzta said it will close and sell a bakery in Bangi. No relevant restructuring or impairment charges will be triggered as part of the bakery sale, Aryzta said.