HOCHDORF Group Press Release: Shareholding brings HOCHDORF closer to the end user
Closing of the majority shareholding for Pharmalys
Hochdorf, 20 December 2016 - With all pre-conditions met, the closing for the majority holding in Pharmalys Laboratories SA and in the jointly-founded Pharmalys Africa Sarl has been completed. HOCHDORF currently has a 49% holding in Pharmalys Tunisia SA. This means that the integration of these companies into the HOCHDORF Group can be completed by the end of 2016.
With all conditions met, the closing of the HOCHDORF Group's shareholdings in the Pharmalys Group companies has been completed today (Monday). This means that HOCHDORF assumes a 51% majority holding in Pharmalys Laboratories SA and in the jointly-founded Pharmalys Africa Sarl effective at the end of 2016. Only 49% of the shares are being acquired in Pharmalys Tunisia SA in a first step. The expectation is that the shareholding will likewise increase to 51% once the takeover procedure has been approved.
Forward integration strategy
The holding in Pharmalys is an important milestone towards meeting the Group's strategic objectives for 2020. By then HOCHDORF Group aims to develop into a globally active, profitable niche-market company with premium products. "HOCHDORF aims to move closer towards the end user and this majority holding in Pharmalys is an important step in this direction," says Thomas Eisenring, CEO of the HOCHDORF Group. Pharmalys is active in over 40 countries in the Middle East, Africa and Asia. HOCHDORF has been producing infant formula for Pharmalys since 2008.
On 29 November 2016, HOCHDORF Holding Ltd shareholders voted for a capital increase that was necessary for the majority shareholding as well as an increase to the transferability restrictions from 5% to 15%. Additional details relating to the Pharmalys transaction are available on the HOCHDORF Group website: www.hochdorf.com.
Contact:
Christoph Hug, Head of Corporate Communications, HOCHDORF Group.
Tel: +41 (0)41 914 65 62 / +41 (0)79 859 19 23, christoph.hug@hochdorf.com
In 2015 the HOCHDORF Group, which is headquartered in Hochdorf, generated a consolidated gross sales revenue of CHF 551.2 million. It is one of the leading foodstuff companies in Switzerland, with more than 625 employees as at 31 December 2015. Made from such natural ingredients as milk, wheat germ, and oilseeds, HOCHDORF products have been contributing to the health and well-being of the young and old alike since 1895. Our customers include the food industry and wholesalers and retailers. Our products are sold in more than 90 countries. HOCHDORF stock is traded on the SIX Swiss Exchange in Zurich (ISIN CH0024666528).
