Houlihan Lokey Advises ARYZTA

Houlihan Lokey is pleased to announce that ARYZTA AG has sold its North American business (ANA) to funds managed by Lindsay Goldberg for a total enterprise value of $850 million. The transaction closed on May 4, 2021.

ANA provides breads, sweet and savory baked goods, and snacks to leading customers in the quick-service restaurant, foodservice, and retail markets across the U.S. and Canada. With over 1,500 unique products, the company has one of the broadest portfolios in the industry, including both private label and branded offerings under the Otis Spunkmeyer, La Brea Bakery, and Oakrun Farm Bakery brands. ANA operates 15 state-of-the-art production facilities with over 4,000 employees in the U.S. and Canada.

ARYZTA AG is a global food business with a leadership position in convenience bakery. ARYZTA is based in Schlieren, Switzerland, with operations in North America, South America, Europe, Asia, Australia, and New Zealand. ARYZTA is listed on the SIX Swiss Exchange (SIX:ARYN).

Lindsay Goldberg is a private investment firm that focuses on partnering with families, founders, and management teams seeking to actively build their businesses. Since 2001, Lindsay Goldberg has raised more than $17 billion of equity capital and has invested in over 50 platform companies and over 250 follow-on opportunities. The firm focuses on a diverse set of industries that have demonstrated resilience across economic cycles, including industrials, business, government and financial services, and healthcare in North America and Western Europe. Lindsay Goldberg takes a relationship-driven approach and is supported by its global network of affiliate partners.

This deal represents another successful transaction for Houlihan Lokey in the value-added bakery sector following the sale of Give & Go to Mondelēz, C.H. Guenther & Son, Inc., to PPC Partners, and Diversi Foods to Martin Braun-Gruppe.

Houlihan Lokey acted as the financial advisor to the sellers and assisted in negotiating the transaction on their behalf.