Baking & Snack - June 2020 - 14

The Bakery Cos. acquires
plant from Specialty Bakers

ASB announces new dates
for BakingTECH 2021

The Bakery Cos. Nashville, Tenn., has acquired a baking plant in
Smyrna, Ga., from Specialty Bakers LLC. The Smyrna facility is
located less than 20 miles from The Bakery Cos.' existing operations in Norcross, Ga., and produces and distributes laminated
dough items, including croissant and Danish, as well as sweet
baked goods for in-store bakeries.
"We are tremendously excited by this acquisition as broadening
of our production capabilities is critical to best serving our customers nationwide," said Yianny Caparos, president of The Bakery Cos.
The announcement comes less than a month after The Bakery
Cos. broke ground on a 50,000-square-foot expansion to its
Nashville operation to produce frozen, thaw-and-serve croissants
for the retail, in-store bakery and foodservice channels.
"We are thrilled to be welcoming the team of associates in
Smyrna to our Bakery Cos. family," said Cordia Harrington, chief
executive officer of The Bakery Cos. "Their product and customer
portfolio complements our existing business and will enable us to
offer a broader range of unique, high-quality baked goods across
both sweet and savory categories"
Mr. Caparos said the Nashville plant will boast one of the nation's largest high-speed croissant production lines as well as
enough cold storage space to house an additional 5,000 pallets of
frozen product.
- Eric Schroeder, Food Business News

In response to membership surveys regarding scheduling conflicts around 2020 event postponements, BakingTECH, the
American Society of Baking (ASB)'s annual technical conference
and marketplace exposition is now scheduled for Feb. 14-16, 2021
at the Hilton Chicago. The BakingTECH planning committee is
developing plans to include digital components with the in-person conference so that all members can learn, network and receive
recognition during the "Best Week in Baking."
"ASB's planning committee is excited to announce that
BakingTECH 2021 will offer the face-to-face aspect of ASB's signature annual event along with the most modern method to attend virtually and participate in the industry's most important
gathering," said Kent Van Amburg, executive director of ASB.
Annually attended by more than 1,000 baking professionals,
BakingTECH provides the professional platform for the international baking industry to share cutting-edge information, discover new technology opportunities, and collaborate with industry
experts and leaders.

Former Tyson executive to
lead Clif Bar & Co.
Sally Grimes joined Clif Bar & Co., Emeryville,
Calif., as chief executive officer. Ms. Grimes will succeed owners and co-CEOs Gary Erickson and Kit
Crawford. Mr. Erickson is the founder of Clif Bar.
Ms. Grimes most recently was group president,
prepared foods, at Tyson Foods, Inc., Springdale,
Ark., heading a $10 billion business. Ms. Grimes
Grimes
fueled record growth at the Tyson segment, spearheading numerous successful and innovative initiatives.
"Sally's passion for what makes Clif unique will benefit our company culture and her track record for innovative thinking will help
take us to the next level," Mr. Erickson said.
She has been named to Fortune's "Most Powerful Women to Watch"
and Fast Company's "Top 100 Most Creative People in Business."
"Clif is in a unique position to not only innovate but also drive
meaningful change in our food system," Ms. Grimes said. "Their
focus on the long game is inspiring and offers endless potential."
- Josh Sosland, Milling & Baking News

14 Baking & Snack June 2020 / www.bakingandsnack.com

Aryzta outlines COVID-19
cost-saving measures
ARYZTA AG, Schlieren, Switzerland, issued a series of measures
it has undertaken since mid-March to maximize cash and cut
costs during the coronavirus (COVID-19) pandemic.
As part of its efforts, ARYZTA said it paused production at
eight baking plants - five in North America and three in Europe.
In addition, the company temporarily closed more production
lines within baking plants to align capacity with demand.
Approximately 30% of the company's workforce was furloughed, and future capital expenditures have been suspended
with the exception of maintenance and health and safety.
ARYZTA has also postponed future Project Renew programs
where additional cash would be needed and is eliminating discretionary costs to the maximum extent possible.
The company also is using government support actions across
its regions, including partial reimbursement of salary costs, social
security and pension payment deferrals, as well as payroll, corporation and other tax payment deferrals.
At the beginning of April, the executive management committee agreed to a three-month 30% salary reduction, while the
broader leadership team agreed to a 15% salary reduction, and the
board of directors agreed to a 30% reduction in fees.
The board also announced that Rothschild & Co. will conduct a
review of "all strategic and financial options available to the group
to maximize value for the benefit of all of the group's stakeholders."


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Baking & Snack - June 2020

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