Aryzta badly needs a turnaround in its US business with a ‘bumpy road ahead’

Best known in Ireland for its Cuisine de France brand, the company is continuing to sell off assets to pay down debt

13th October, 2019
Gary McGann, chairman and Kevin Toland, chief executive of Aryzta Irish-Swiss food group, at the company annual general meeting last week Picture: Fergal Phillips

The verdict by Swiss stockbroker Vontobel was hardly what Kevin Toland wanted to hear a day after Aryzta published its annual results. He has been at the helm of the now Zurich-based food company, which has its roots in Ireland, for two years and has been firefighting at every turn to arrest the deterioration in its revenue and profits.

Having digested the results, Vontobel’s respected analyst, Jean-Philippe Bertschy, who has tracked Aryzta’s fortunes for years,...

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