Saturday 19 October 2019

Toland acquires almost €300,000 worth of shares in Aryzta

Aryzta CEO Kevin Toland
Aryzta CEO Kevin Toland
Ellie Donnelly

Ellie Donnelly

Kevin Toland, the CEO of Cuisine de France owner Aryzta, has acquired €298,400 worth of shares in the company.

Mr Toland purchased 475,000 shares at a price of CHF 0.688059 per share.

Meanwhile, Rolf Watter, a non-executive director at Aryzta, has acquired 150,000 shares at a price of CFH 0.665, worth a total of CFH 99,750 (€91,099).

Shares in company are up 4.45pc today.

Earlier this week the Swiss-Irish company said that its underlying earnings before interest, tax, depreciation and amortisation (ebitda) stabilised in the 12 month period to the end of July.

Underlying ebitda was up 1.9pc at €308m. It made an operating profit of €5.1m for the year compared with a €423.3m operating loss previously.

Aryzta's annual report, also published this week, shows that Mr Toland was awarded a total of 4.53m Swiss francs (€4.1m) in the 12 months to the end of July. That included a basic salary of €881,000, as well as awards of €2.2m under a long-term incentive plan.

Mr Toland is the former head of Glanbia's US and global nutritionals unit, and ex-DAA chief executive.

Last week, Aryzta said it had reached an agreement to sell most of its 49pc stake in French frozen food supplier Picard for €156m to Tunisian conglomerate Invest Group Zouari. Aryzta acquired the stake in 2015 for €446m.

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