Food group IAWS has increased its stake in Swiss bakery Hiestand to 32%.
In a statement, the company said it had spent €36.6m to buy 56,547 shares, representing 10.6% of the Swiss group
IAWS chief executive Owen Killian said Hiestand had proved to be 'an'excellent investment', and its strong performance had encouraged IAWS to raise its stake. 'We have no current plans to further increase the level of this investment,' he added.
