Swiss-Irish company buys largest local frozen bakery producer

Swiss-Irish company Aryzta AG took over Fornetti, the largest producer of frozen bakery in Eastern Europe with over 1,300 employees in Hungary, Romania, and Bulgaria. In Romania, Fornetti filed for insolvency in 2011. The company managed to fulfil its obligations to the lenders, banks and partners and exit insolvency this year. The bakery chain had a turnover of EUR 23 million in Romania, in 2014. Fornetti Romania was founded in 2001, following a partnership with Hungarian Fornetti Kft. Aryzta, which is the largest third producer of frozen bakery in the world, wants to expand the Fornetti business from a regional to a European level. editor@romania-insider.com