HOCHDORF Group Press Release: Liquidation of smaller subsidiaries
Hochdorf, 06 May 2020 – On July 8, 2019, the HOCHDORF Group announced it would focus its strategy on its Baby Care and Dairy Ingredients divisions. In line with this, the group has sought solutions for business areas no longer considered to be strategically relevant. It has now been decided to dissolve Zifru Trockenprodukte and the two Snapz companies.
Despite intensive efforts, HOCHDORF has been unable to find buyers for Zifru Trockenprodukte GmbH, Snapz Foods AG and Snapz Foods USA, Inc. These three subsidiaries will therefore be liquidated.
Liquidation der Zifru Trockenprodukte GmbH
Despite intensive efforts, no interested party has come forward to take over Zifru Trockenprodukte GmbH at acceptable conditions. The company is also not expected to make a profit for the foreseeable future. For these reasons, the Board of Directors and the Senior Management team have decided to open liquidation proceedings for Zifru Trockenprodukte GmbH.
Liquidation of the Snapz companies
HOCHDORF has also been unable to find buyers for Snapz Foods AG and Snapz Foods USA, Inc. Both of these companies will also be liquidated.
Marbacher Ölmühle GmbH remains part of the HOCHDORF Group
Likewise, no buyer has yet been found for Marbacher Ölmühle GmbH. Various restructuring steps at this company mean a marginally positive result is expected for the current financial year. Marbacher Ölmühle GmbH will therefore remain part of the HOCHDORF Group, with specific investments and additional market activities planned for its further development.
Dr Christoph Hug, Head of Corporate Communications HOCHDORF Group, Tel:+41 (0)41 914 65 62 / +41 (0)79 859 19 23, email@example.com.
About the HOCHDORF Group:
The HOCHDORF Group, based in Hochdorf, achieved a consolidated gross sales revenue of CHF 456.8 million in 2019. It is one of the leading foodstuff companies in Switzerland, employing over 618 staff as of 31.12.2019. Made from natural ingredients such as milk, whey and oil seeds, HOCHDORF products have been contributing to our health and well-being since 1895 – from babies to senior citizens. Its customers include the food industry and the wholesale and retail sectors and its products are sold in over 70 countries. The shares are traded on the SIX Swiss Exchange in Zurich (ISIN CH0024666528).