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Swiss Aryzta buys Hungarian Fornetti

Switzerlandʼs Aryzta has bought Hungarian frozen bakery products company Fornetti, former Fornetti managing director József Szabó announced yesterday. 

The decision to sell was taken because Fornetti has reached the limits of its growth potential, Szabó said. He declined to reveal the sale price, citing business confidentiality. Fornetti employs 1,300 workers in Hungary and abroad. It had revenue of almost HUF 20 bln last year.