IAWS Group
Encyclopedia
IAWS Group plc was an international food and agribusiness group. The Group had lifestyle food operations in Ireland, the UK, France, the USA, and Canada serving over 50,000 customers. This lifestyle food business focuses on niche high-quality growth segments of the bakery and convenience food markets.
The Group had its roots in the Irish agricultural industry and continued to maintain a leadership position in Ireland and the UK in the areas of animal feed, fertiliser and marine protein.
IAWS Group plc was listed on the Dublin
and London Stock Exchange
s and was publicly quoted since 1988. It delisted at completion of business on 20 August 2008 following its merger with Hiestand Holding AG to found Aryzta AG
. Aryzta commenced trading on the ISE and SWX Swiss Exchange
on 22 August 2008. IAWS Group plc is now a wholly owned subsidiary
of Aryzta AG.
-style bread
-based products and La Brea Bakery known for their higher end of Artisan Breads. Otis Spunkmeyer was acquired by IAWS in November 2006.
In addition to Cuisine de France and La Brea Bakery, IAWS also operates and owns the following brands in Europe: Delice de France, Pierre's, Shamrock Foods, Roma, Carroll Cuisine, Hubert, and Coup de Pates.
in 1988. The company acquired most of the Society's then businesses, in the food, fertiliser, and agribusiness areas at that point. For most of the 1990s the company was managed by Philip Lynch
, first as chief executive officer
and later chairman. In 1996 the IAWS Co-Op took its shareholding in the company below 51% for the first time. Lynch retired as chairman in 2005, as the IAWS Co-Op (of which he is now chief executive) prepared to sell the last of its shares in the company and itself float on the stock exchange, as One51 plc. IAWS Co-op changed its name to One51 plc, but did not in the event float on the stock exchange.
On 5 June 2007, IAWS spun off the agribusiness activities - which had been themselves spun off from the IAWS Co-Op to form IAWS Group in 1988 - as a new company Origin Enterprises
plc, listed on the Irish Enterprise Exchange
and the Alternative Investment Market
. Aryzta retains a majority shareholding in Origin.
In summer 2008 IAWS announced that it would merge with Swiss
company Hiestand Holding AG to form Arzyta AG. The new company is incorporated in Switzerland and has listings on the SWX Swiss Exchange
(the Zurich
Stock Exchange) and the Irish Stock Exchange
, but has dropped IAWS' listing on the London Stock Exchange. Trading in IAWS ceased on 20 August 2008 with Arzyta commencing trading on 22 August.
The formation of ARYZTA AG enabled the industrial merger of IAWS Group, plc and HIestand AG. The reason for this is that it is not legally possible to merger a EU company with a Swiss company. The creation of ARYZTA AG, a Swiss company, allowed HIestand AG to merger with ARYZTA AG while concurrently ARYZTA AG took over IAWS Group, plc, thereby facilitating this clever industrial merger between two frozen bakeries which had complimentary bakery offerings and capabilities and operated in complimentary part of Europe.
The Group had its roots in the Irish agricultural industry and continued to maintain a leadership position in Ireland and the UK in the areas of animal feed, fertiliser and marine protein.
IAWS Group plc was listed on the Dublin
Irish Stock Exchange
-History:The Irish Stock Exchange is Ireland's only stock exchange and has been in existence since 1793. It is an Irish private company limited by guarantee. It was first recognised by legislation in 1799 when the Irish Parliament passed the Stock Exchange Act...
and London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
s and was publicly quoted since 1988. It delisted at completion of business on 20 August 2008 following its merger with Hiestand Holding AG to found Aryzta AG
Aktiengesellschaft
Aktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e. owned by shareholders, and may be traded on a stock market. The term is used in Germany, Austria and Switzerland...
. Aryzta commenced trading on the ISE and SWX Swiss Exchange
SWX Swiss Exchange
SIX Swiss Exchange , based in Zurich, is Switzerland's principal stock exchange . SIX Swiss Exchange also trades other securities such as Swiss government bonds and derivatives such as stock options.The main stock market index for the SIX Swiss Exchange is the SMI, the Swiss Market Index...
on 22 August 2008. IAWS Group plc is now a wholly owned subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of Aryzta AG.
Products
In North America, IAWS was mainly known for its Cuisine de France range of FrenchFrance
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
-style bread
Bread
Bread is a staple food prepared by cooking a dough of flour and water and often additional ingredients. Doughs are usually baked, but in some cuisines breads are steamed , fried , or baked on an unoiled frying pan . It may be leavened or unleavened...
-based products and La Brea Bakery known for their higher end of Artisan Breads. Otis Spunkmeyer was acquired by IAWS in November 2006.
In addition to Cuisine de France and La Brea Bakery, IAWS also operates and owns the following brands in Europe: Delice de France, Pierre's, Shamrock Foods, Roma, Carroll Cuisine, Hubert, and Coup de Pates.
History
The company was spun off from the Irish Agricultural Wholesale Society (IAWS Co-Op) and floated on the Irish Stock ExchangeIrish Stock Exchange
-History:The Irish Stock Exchange is Ireland's only stock exchange and has been in existence since 1793. It is an Irish private company limited by guarantee. It was first recognised by legislation in 1799 when the Irish Parliament passed the Stock Exchange Act...
in 1988. The company acquired most of the Society's then businesses, in the food, fertiliser, and agribusiness areas at that point. For most of the 1990s the company was managed by Philip Lynch
Philip Lynch
Philip Lynch is a prominent Irish businessman who has held the position of chief executive at two Irish public limited companies and multiple senior directorships including chairman of the board of An Post...
, first as chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
and later chairman. In 1996 the IAWS Co-Op took its shareholding in the company below 51% for the first time. Lynch retired as chairman in 2005, as the IAWS Co-Op (of which he is now chief executive) prepared to sell the last of its shares in the company and itself float on the stock exchange, as One51 plc. IAWS Co-op changed its name to One51 plc, but did not in the event float on the stock exchange.
On 5 June 2007, IAWS spun off the agribusiness activities - which had been themselves spun off from the IAWS Co-Op to form IAWS Group in 1988 - as a new company Origin Enterprises
Origin Enterprises
Origin Enterprises plc is an Irish food and agribusiness group majority owned by Swiss/Irish food company Aryzta. It is listed on the Irish Enterprise Exchange and the Alternative Investment Market.-History:...
plc, listed on the Irish Enterprise Exchange
Irish Enterprise Exchange
The Irish Enterprise Exchange is a market that was launched on 12 April 2005. This market is designed to suit the needs of small to mid-sized companies. IEX offers small to mid-sized companies a number of advantages:...
and the Alternative Investment Market
Alternative Investment Market
AIM is a sub-market of the London Stock Exchange, allowing smaller companies to float shares with a more flexible regulatory system than is applicable to the main market....
. Aryzta retains a majority shareholding in Origin.
In summer 2008 IAWS announced that it would merge with Swiss
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
company Hiestand Holding AG to form Arzyta AG. The new company is incorporated in Switzerland and has listings on the SWX Swiss Exchange
SWX Swiss Exchange
SIX Swiss Exchange , based in Zurich, is Switzerland's principal stock exchange . SIX Swiss Exchange also trades other securities such as Swiss government bonds and derivatives such as stock options.The main stock market index for the SIX Swiss Exchange is the SMI, the Swiss Market Index...
(the Zurich
Zürich
Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...
Stock Exchange) and the Irish Stock Exchange
Irish Stock Exchange
-History:The Irish Stock Exchange is Ireland's only stock exchange and has been in existence since 1793. It is an Irish private company limited by guarantee. It was first recognised by legislation in 1799 when the Irish Parliament passed the Stock Exchange Act...
, but has dropped IAWS' listing on the London Stock Exchange. Trading in IAWS ceased on 20 August 2008 with Arzyta commencing trading on 22 August.
IAWS Group subsidiaries
- Food North America
- Otis SpunkmeyerOtis SpunkmeyerOtis Spunkmeyer Inc. is a baked goods distribution company widely known for its name and flagship line of muffins and cookies. Although a relatively small company, Otis Spunkmeyer has enjoyed a large amount of success in the industry, with clients ranging from small family-owned businesses and...
- La Brea BakeryLa Brea BakeryLa Brea Bakery is a retail bakery, restaurant operator, and an industrial baking company started in Los Angeles, California. Since opening its flagship store on La Brea Avenue in 1989, La Brea has opened two much larger bakeries in Van Nuys, California, and Swedesboro, New Jersey, to serve...
- Otis Spunkmeyer
- Food Europe
- Cuisine de France
- Delice de France
- Carroll Cuisine
- Pierre's
- Coup de Pates
- Origin EnterprisesOrigin EnterprisesOrigin Enterprises plc is an Irish food and agribusiness group majority owned by Swiss/Irish food company Aryzta. It is listed on the Irish Enterprise Exchange and the Alternative Investment Market.-History:...
- R&H HallR&H HallR&H Hall plc is Ireland's biggest importer and supplier of animal feed ingredients for feed manufacturing through its extensive trading, purchasing, shipping and storage capability.-Company history:...
- Goulding ChemicalsGoulding ChemicalsGoulding Chemicals Ltd is a wholly owned subsidiary of IAWS Group plc and has been operating since 1856. It was run for decades by the Goulding family that included Valerie Goulding...
- Odlums GroupOdlums GroupOdlums Group is an Irish food processing and marketing company owned entirely by Origin Enterprises, itself a subsidiary of the IAWS Group, all of Dublin...
- R&H Hall
The formation of ARYZTA AG enabled the industrial merger of IAWS Group, plc and HIestand AG. The reason for this is that it is not legally possible to merger a EU company with a Swiss company. The creation of ARYZTA AG, a Swiss company, allowed HIestand AG to merger with ARYZTA AG while concurrently ARYZTA AG took over IAWS Group, plc, thereby facilitating this clever industrial merger between two frozen bakeries which had complimentary bakery offerings and capabilities and operated in complimentary part of Europe.