US-based private equity company Lindsay Goldberg has agreed to acquire the North American bakery business of Aryzta for an undisclosed sum.

The acquired business, Aryzta North America (ANA), is one of the key B2B providers of frozen baked goods in the US and Canada.

It is engaged in providing breads, snacks and baked goods to retail and foodservice markets across the US and Canada.

The company offers more than 1,500 private label and branded products under the Otis Spunkmeyer, La Brea Bakery, and Oakrun Farm Bakery brands.

Lindsay Goldberg partner Eric Fry said: “We are excited to partner with the ANA management team as they execute their strategy to drive growth and create value for their customers by building on the company’s tradition of exceptional customer service and leading product innovation.”

With a workforce of more than 4,000 employees, ANA operates 15 production facilities in the US and Canada.

Completion of the deal is subject to customary closing conditions and regulatory approvals.

ANA CEO Tyson Yu said: “Lindsay Goldberg is renowned for its collaborative approach in partnering with management teams to build great businesses.

“The firm’s extensive industry experience, network of relationships, and broad operational expertise position us to maintain the highest standards for food safety and sustainability and accelerate our innovation and future growth trajectory.”

For this deal, Houlihan Lokey and Alantra acted as financial advisers to Aryzta.