Rumours: IAWS and Hiestand in advanced merger talks

Dublin / IE. (sbp) The Irish IAWS Group PLC and Swiss Hiestand Holding are in advanced merger talks, reports the «Sunday Business Post» in Ireland. IAWS, which makes Cuisine de France, Delice de France and Coup de Pates breads and pastries in Europe and owns U.S. bakery brands Otis Spunkmeyer and La Brea in the United States, said it would issue a statement in the next days – says «Reuters». «IAWS notes weekend media comment and will make a statement on this speculation on Monday», a spokesman for Dublin-based IAWS said. At Hiestand nobody was available for a comment. IAWS already owns a 32 percent stake in Hiestand and the Sunday Business Post said a merger deal would be worth 2,5 billion EUR and create a group with combined annual sales of three billion EUR.