Veraison sells most of its remaining stake in Aryzta

Group previously mounted a boardroom coup in the Swiss-Irish food company

Aryzta owns the Cuisine de France label in Ireland, and supplies the likes of McDonald’s, Subway and Lidl

Aryzta owns the Cuisine de France label in Ireland, and supplies the likes of McDonald’s, Subway and Lidl

 

Veraison Capital, a Zurich activist investment firm that mounted a campaign against Aryzta in May, has reduced its stake in the beleaguered Swiss-Irish bakery group to “significantly less” than 3 per cent, it said on Tuesday.

Before Christmas the group sold more than half of its 9.81 per cent stake following the completion of the boardroom coup it initiated.

In a short statement on Tuesday, the firm, led by financier Gregor Greber, said it had sold another 4 per cent of its stake in two blocktrades to two Swiss family offices.

“In the last trading days of December 2020, Veraison sold around 4 per cent of Aryzta in two blocktrades to two Swiss family offices,” it said. “The achieved return amounts to more than 100 per cent. Veraison now holds significantly less than 3 per cent in Aryzta.”

Aryzta owns the Cuisine de France label in Ireland, and supplies the likes of McDonald’s, Subway and Lidl.