Investment firm Veraison Capital has sold a large portion of its stake in the Swiss-Irish baked goods company Aryzta.

In a statement, Zurich based Veraison said it had sold around 4% of its holding in the business.

This was done in two block trades to two Swiss family offices.

"The achieved return amounts to more than 100%," it claimed.

Veraison now holds significantly less than 3% of the shares in Aryzta.

Before Christmas the company had sold more of its stake in the Cuisine de France brand owner.

Veraison successfully campaigned for significant change at the company last year.