Hochdorf shareholders approve sale of operating business
Published: Wednesday, Sep 18th 2024, 17:40
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The highly indebted milk processor Hochdorf is selling its operating business to the Swiss-British company AS Equity Partners for CHF 83 million. The shareholders approved the sale of Hochdorf Swiss Nutrition (HSN) at the request of the Board of Directors.
The Extraordinary General Meeting of Hochdorf Holding passed its resolution with 73 percent of votes in favor. This means that the operating business combined in Hochdorf Swiss Nutrition (HSN) will be separated from the holding company.
The holding company's debts cannot be covered by the proceeds from the sale. The shareholders would lose their investment, said Hochdorf CEO Ralph Siegl. There was no way around it.
HSN and its 350 jobs can be secured thanks to the new owners. AS Equity Partners believes in the future and the expertise of HSN, explained Hochdorf Chairman of the Board of Directors Jürg Oleas.
HSN produces milk powder and milk-based foods for infants, children and mothers, including the Bimbosan brand.
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