Frozen Bakery is investing around €40 million in a new large bakery. At the same time, he says he is on track with his growth and financial goals.
Arista is building a new bakery in the Western Australian city of Perth. The bakery group is investing about 40 million euros in it, as announced on Tuesday.
According to reports, construction of the new large bakery will take two years and the facility will one day offer fast food restaurants, catering and retail. This will create 80 direct employment opportunities. A local microgrid provides large amounts of renewable energy from solar and battery storage systems.
The report says the planned construction is the first major investment in a bakery in Western Australia in 20 years. Due to population growth and strong demand for baked goods, Australia's existing baking capacities are said to be almost fully utilised.
The new facility will improve Arista's environmental footprint in Australia by reducing the need to transport baked goods from two other manufacturing facilities in the states of New South Wales and Victoria to customers in Western Australia. The company estimates that the new bakery will reduce Arista's carbon footprint by 700 tons annually.
The construction will be financed as part of a medium-term plan in which the company will invest 3.5 to 4% of its sales.
At the same time, Arista says it is on track with its growth and financial goals. “Business development continues to meet expectations,” said Board Chairman and CEO Urs Jordi. As is well known, the company is targeting an Ebitda margin of 14.5% by 2025 and wants to bring its debt below 3x Ebitda.