Hochdorf a un nouvel actionnaire principal italien
Published: Tuesday, Apr 30th 2024, 14:31
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Le transformateur de lait Hochdorf, en difficulté financière, pourrait être sauvé : le groupe italien Newlat est devenu l'un des principaux actionnaires de l'entreprise et souhaite présenter un plan de revitalisation pour le producteur de lait en poudre et de lait infantile.
Newlat's involvement became known through a disclosure on the Swiss stock exchange on Tuesday. According to the announcement, Newlat has acquired just under 11 percent of Hochdorf. The Italian company, which is listed on the Milan Stock Exchange and has an annual turnover of just over 500 million euros, is pursuing strategic interests with its stake in Hochdorf.
When asked by the news agency AWP, the company stated that Hochdorf's business is "naturally complementary" to its own Specialized Nutrition business unit, which it says operates the only infant milk powder factory in Italy. Hochdorf in turn mainly produces milk powder and infant formula. The Bimbosan brand is particularly well known in Switzerland.
Newlat writes in the statement that the investment in Hochdorf is aimed at a potential restructuring of Hochdorf. On the one hand, the possibility of restarting the Hochdorf Group is being examined, and on the other hand, the purchase of the operational business.
Hochdorf suffers from legacy issues
Hochdorf's management is in fact looking for a buyer for its business. At the beginning of March, it openly announced that it was no longer possible to restructure the company on its own and that it therefore wanted to sell the operating business.
Although Hochdorf was back in the black operationally in 2023, the company, which currently employs around 350 people, has heavy financial burdens. The difficult situation began with the takeover of the infant formula marketer Pharmalys, in which Hochdorf acquired a majority stake in 2016. In 2019, the company sold the subsidiary back to the original owner and major Hochdorf shareholder Amir Mechria at a lower price - with a corresponding financial loss.
In addition, the company took on high debts and interest payments of around 140 million Swiss francs with a hybrid bond in 2017, and various attempts at realignment were also unsuccessful. For example, Hochdorf wanted to expand into China - a plan that is now considered a failure.
Revitalization plan for the Group
It is not yet known exactly what Newlat intends to do. The Group told AWP that it was considering proposing a representative for the Board of Directors at the Annual General Meeting. In addition, a revitalization project will soon be presented to Hochdorf's management, outlining detailed plans for reviving the company.
Hochdorf itself is still keeping a low profile regarding Newlat's investment: in response to an inquiry, Corporate Communications merely stated that the Board of Directors had taken note of the change in the shareholder structure. "The process of sales talks is continuing unchanged. No decisions have yet been made," said a spokesperson.
However, Newlat's investment had one quick effect: the share price of the faltering Swiss milk processor jumped on the stock exchange.
Hochdorf's share price had risen to 5.04 by the afternoon, making it around three and a half times more expensive than the previous evening.
However, the Hochdorf share has lost a lot of value in recent years due to Hochdorf's economic situation. In 2017, it still cost over CHF 300.
©Keystone/SDA
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