HOCHDORF Holding AG has confirmed its proposal to sell HOCHDORF Swiss Nutrition Ltd (HSN) to AS Equity Partners. The Board of Directors received a non-binding proposal from Newlat Group S.A. but decided not to pursue it. They believe AS Equity Partners offers the most attractive and secure transaction.

Newlat has been aware of the sale since March 2024 but has not submitted a binding offer. Their approaches have been unstructured and lack the necessary details. The non-binding letter from Newlat does not meet the sales process requirements and lacks transparency regarding the proceeds and deductions from the company value of CHF 93.0 million.

In contrast, AS Equity Partners has submitted a binding share purchase agreement, approved by HOCHDORF's Board and supported by involved banks. The agreement has also been authorized by the court as part of debt restructuring proceedings. AS Equity Partners plans to continue HSN's operations without interruption and strengthen its equity.

The Board of Directors emphasizes that AS Equity Partners offers high transaction security, crucial for maintaining operations and jobs. They urge shareholders to approve the sale at the Extraordinary General Meeting on 18 September 2024.

HOCHDORF, founded in 1895, specializes in milk processing and develops functional foods and ingredients. The company achieved a net sales revenue of CHF 307.8 million in 2023 and employs 369 staff. HOCHDORF shares are listed on the SIX Swiss Exchange.