Italian Newlat Group has emerged as a saviour for the financially troubled milk processor Hochdorf. It has become a shareholder (11%) and intends to present a revitalisation plan for the milk powder and baby milk producer.
Newlat’s involvement became known through a disclosure on the Swiss stock exchange on Tuesday, 30 April. 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 investment in Hochdorf. The company told the news agency AWP that Hochdorf’s business is complementary to its own Specialised 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. Newlat writes in the statement that the acquisition of Hochdorf is aimed at a potential restructuring. 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.
