ARYZTA announces it has signed a definitive agreement to sell 100% of the equity and assets of its North American business in the USA and Canada to an affiliate of Lindsay Goldberg LLC for a total enterprise value of $850 million in cash. The transaction is expected to complete by the end of ARYZTA’s current 2021 financial year and is subject to closing conditions customary for this type of transaction.

The early conclusion of this successful disposal at a price within the initial guidance range validates the Board’s strategy to remain independent. The Board is fully convinced that its strategy serves shareholders’ and stakeholders’ best interests and provides the optimal route for value creation.