Aryzta AG has purchased Cloverhill Bakery from private equity firm Quad-C Management.

Chicago-based Cloverhill makes individually wrapped pastries, including Danishes, buns, muffins and other cake products for retail, food service and vending customers. Terms of the deal were not disclosed.

The Zurich-based buyer is a baking company that makes breads, sweet baked goods, pizza, tarts and pies. In March, the company bought Pineridge Bakery from Swander Pace Capital for $340 million. Before that, in January, Aryzta made a majority investment in Origin Enterprises plc, which provides services to food companies.

Quad-C, headquartered in Charlottesville, Va., focuses on middle market investments. The firm invested in Cloverhill in 2009. During Quad-C's hold period, the firm invested about $100 million in capital. The firm's former consumer investments include Augusta Sportswear and Red Robin. Quad-C is currently invested Generation Brands, a lighting company.

Changes in eating habits have spurred a variety of food M&A activity, including Goldman Sachs and Vestar Capital's purchase of Hearthside Food Solutions, and Carlyle Cardinal Ireland's purchase of Lily O'Brien's, a chocolate maker.

For more, see "Snack Time." 

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