A legal case taken against listed food group Aryzta has been dismissed by Zurich’s commercial court.

In a statement to the Irish Stock Exchange, Aryzta (which was formed in 2008 in a merger between Swiss bakery firm Hiestand and the Irish company IAWS) said the court ruled in its favour in relation to legal action taken by a former Hiestand shareholder, Peter J Lehner Partner AG.

Lehner had claimed entitlement to a price for its Hiestand shares equal to that paid by IAWS to private equity firm Lion Capital for its shares in the Swiss firm. Aryzta has said this claim was without merit. Lehner can appeal the ruling to the Swiss federal court with 30 days of May 1st.