Swiss bakery company Aryzta has acquired German bakery Klemme for €280m in a move described by Aryzta as a strategic acquisition that will substantiallyi transform its European manufacturing footprint and greatly enhance its channel diversification and product capability n the region.
Klemme, established in 1991, operates seven bakeries with multiproduct manufacturing capabilities, and has around 1,400 employees. The company’s revenue for 2012 was €229m. Its food range (2,500 bakery items) includes an assortment of bread rolls and ciabattas, croissants, sweet and savoury pastries, doughnuts and pretzels.
The acquisition remains consistent with Aryzta’s policy to target acquisitions whichadd new geographies, customers, channels and product capability, the company said. On completion, Aryzta claims that it will become a leading bakery player in the growing German in-store bakery sector and a leading partner manufacturer for well established European retailers in the specialty bakery sector.
According to the company, the acquisition will substantially rebalance Aryzta’s historical under representation within European large retail and further position the company for future growth opportunities, strengthening Aryzta’s capabilities and allowing it to refocus its strategy in Europe by growing market share in all consumer channels.
The acquisition is also said to enhance the defensive characteristics of Aryzta’s business model in Europe as it will now manufacture an enhanced range of bakery products to meet consumertastes across all channels.
“Klemme is a very well invested bakery asset with an enviable reputation for innovationand production excellence,” said Aryzta CEO Owen Killian. “This acquisition will transform Aryzta’s capability in Europe and enhance our strategic positioning with greater access and relevance to large retail and food service customers.”
