Irish-Swiss baked goods group Aryzta has completed the sale of its North American operations in the US and Canada to an affiliate of Lindsay Goldberg ahead of schedule.

The $850m sale was due to complete in July.

Aryzta's North American operations were put on the market last year as the company sought to cut debt levels and reduce the size of the overall operation.

Chairman and interim CEO of Aryzta Urs Jordi welcomed the early and successful conclusion of the deal.

He said that the early conclusion of the transaction allowed management to fully focus on following through on the delivery of improved business operational performance and returning to organic growth.

Aryzta's North American business includes artisan bread brand La Brea and cookie and muffin brand Otis Spunkmeyer.

It was put on the market late last year, along with its Latin American operations, as part of a plan to shrink its business and cut its debt levels.

That decision came after a battle between the company and shareholders, that ended with a boardroom and management overhaul.

It also followed multiple failed takeover approaches by private equity firm Elliott.