Grupo Bimbo and Flowers Foods have captured their share of headlines during the past few years, but keep an eye on Aryzta AG when it comes to industry consolidation. Single-handedly, Aryzta is changing the face of the baking industry outside of the bread aisle.

Formed in 2008 through the merger of Dublin-based IAWS Group P.L.C. and Hiestand Holding AG of Switzerland, this international food company continues to gobble up specialty baking businesses and diversify its portfolio of premium products to supply C-stores, in-store bakeries and some of North America’s biggest quick-service restaurant chains. The pending acquisition of Pineridge Bakery provides a classic example on how Aryzta is trying to better serve such customers as Tim Hortons. Both are reportedly business partners of the popular donut chain.

Not all of its acquisitions are so high profile. Some, such as Pita Pan, a Chicago Heights, Ill., flatbread and pizza crust producer, only became public after an internal memo was published on the Internet.