Hochdorf to liquidate three subsidiaries
In line with this, the group has sought solutions for business areas no longer considered to be strategically relevant, and it has decided to dissolve Zifru Trockenprodukte and the two Snapz companies, one in the USA and the other in Switzerland.
Hochdorf purchased the three companies in 2017.
The company said despite intensive efforts, it has been unable to find buyers for Zifru Trockenprodukte GmbH, Snapz Foods AG and Snapz Foods USA, Inc., and the three subsidiaries will therefore be liquidated.
Hochdorf said no interested party came forward with an acceptable proposal to take over Zifru Trockenprodukte GmbH, a dried fruit and vegetable producer in Zittau, Germany. Hochdorf said the German subsidiary is also not expected to make a profit for the foreseeable future.
This has led to the board of directors and senior management team opening liquidation proceedings for Zifru Trockenprodukte GmbH.
Hochdorf said it has also been unable to find buyers for Snapz Foods AG and Snapz Foods USA, Inc. Both of these companies will also be liquidated.
No buyer has been found for German vegetable oil company Marbacher Ölmühle GmbH, however, restructuring at the company means a marginally positive result is expected for the current financial year, and the company will therefore remain part of the Hochdorf Group, with investment and additional market activities planned for its further development.