Hochdorf moves into baby care

Swiss dairy Hochdorf Group has signed a purchase agreement to acquire 51% of Pharmalys Laboratories, 51% of Pharmalys Tunisia and 51% of Pharmalys Africa Sarl, which is to be founded jointly. The agreement is a significant step towards the end consumer in the baby care business area for Hochdorf. The acquisition is expected to be completed by the end of 2016.

Hochdorf  has been supplying the Pharmalys Group with infant formula since 2008. A close collaboration has developed over this period, with Pharmalys becoming one of Hochdorf ‘s biggest customers in the area of baby care. No significant changes are anticipated in the cooperation with the Pharmalys team.

In order to be able to complete the majority shareholding, the Hochdorf  Holding board of directors is requesting a conditional capital increase to a maximum amount of 717,380 fully paid-in registered shares with a nominal value of CHF 10 and an increase to the registering and voting restriction from 5% to 15%.

The Hochdorf  Holding shareholders will decide on the amendments to the Articles of Association at an extraordinary general meeting on 29 November.

The election of Michiel de Ruiter as an additional board member will also be recommended to the extraordinary general meeting. He was responsible for developing the Hochdorf  Group’s international business in infant formula between 2006 and 2014.

Michiel de Ruiter is currently the CEO of the Zeelandia Group, which is active in 27 countries and has its headquarters in the Netherlands. He is an expert in infant formula and would strengthen the Hochdorf board of directors in that area, the company says.