Shares in Swiss Irish baked goods group Aryzta rose this afternoon after it announced that it will sell its Cloverhill facilities in Chicago and Cicero.
Aryzta said it will sell the Cloverhill facility in Chicago - including the brands "Big Texas" and "Cloverhill" to Hostess Brands.
The company has also separately agreed to sell the legacy Cicero facility to Bimbo Bakeries.
Aryzya said the disposals are consistent with its commitment to address non-core or nonstrategic
businesses and reflect a focus on maximising free cash flow.
Last year, the company had to take a goodwill writedown of €492m in North America, as 800 experienced workers left its Cloverhill Bakery unit after a federal raid raised questions about their employment eligibility.
