Sector News

Musgrave seals deal to acquire La Rousse Foods from Aryzta

December 7, 2017
Food & Drink

Irish retail and wholesale company Musgrave has acquired La Rousse Foods from Aryzta for an undisclosed sum.

Earlier this year Swiss-Irish company Aryzta reported revenue down 2.1% to €3.8 billion, and a net loss of €970.8 million, leading to speculation that it could sell of its assets.

Aryzta CEO Kevin Toland then bought more than $100,000 worth of shares as a vote of confidence in the struggling bakery group.

The Irish Times reported earlier in the year that La Rousse – which Aryzta bought in 2015 – could be worth around €30 million.

With offices in Dublin and Belfast, La Rousse serves more than 1,500 customers. Musgrave’s intention is that La Rousse will continue to operate as a standalone brand.

Commenting on the deal, Musgrave CEO Chris Martin said: “La Rousse Foods is an excellent strategic fit for our business and complements our market-leading foodservice offer.

“We look forward to working with the La Rousse Foods team and customers who will benefit from the support of Musgrave in terms of supply chain infrastructure and access to an increased product range.

“The acquisition forms part of our growing good business strategy, which focuses on growing our brands in the food market across the island of Ireland.”

Source: FoodBev

comments closed

Related News

January 15, 2022

DSM forges F&B business group integrating taste, texture and health know-how

Food & Drink

Health and nutrition giant DSM is showcasing a new integrated F&B operating structure that unifies food specialties, hydrocolloids and nutritional products. Positioned as a business group, it will harness the gamut of taste, texture and health solutions to manufacturers in the F&B sector.

January 15, 2022

Keeping food transparent: F&B suppliers talk eliminating bias and the pitfalls of eco-labeling

Food & Drink

FoodIngredientsFirst speaks to key suppliers Corbion, Agrana Fruit and Kerry to discuss what core strategies are helping keep food businesses up-to-speed with their environmental reporting while remaining bias-free.

January 15, 2022

Titanium dioxide EU ban comes into force, companies have six months to adjust

Food & Drink

France banned the use of the additive in 2020, leading companies such as Lonza to launch Vcaps Plus White Opal, its first commercially-available titanium dioxide-free semi-opaque capsule for food supplements. The move followed several lobby groups urging the European Commission to prohibit TiO2.

Send this to a friend