Aryzta is selling its North American business to an affiliate of private equity group Lindsay Goldberg for $850m.

Lindsay Goldberg, a leading private investment firm that focuses on partnering with families, founders, and management teams, announced today that affiliates of the firm have entered into a definitive agreement to acquire ARYZTA North America (“ANA” or the “Company”), one of the largest B2B providers of frozen baked goods in the U.S. and Canada, from ARYZTA AG. ANA provides breads, sweet and savory baked goods, and snacks to leading customers in the quick-service restaurant, foodservice, and retail markets across the U.S. and Canada. With over 1,500 unique products, the Company has one of the broadest portfolios in the industry, including both private label and branded offerings under the Otis Spunkmeyer, La Brea Bakery, and Oakrun Farm Bakery brands. ANA operates 15 state-of-the-art production facilities with over 4,000 employ ees in the U.S. and Canada. Lindsay Goldberg has deep familiarity and a successful history with much of the ANA business, having built and sold a predecessor to ANA in 2010. “ANA is one of the leading suppliers of high-quality baked goods in the U.S. and Canada, and we look forward to partnering with management to continue ANA’s tradition of serving millions of consumers,” said Russell Triedman, Managing Partner of Lindsay Goldberg.