London / UK. (lc) Lion Capital LLP has agreed to acquire a 32 percent stake in Hiestand Holding AG, a publicly-traded company listed on the SWX Swiss Exchange. The Hiestand Group is the leading international service provider of convenience deep-frozen bakery products in Switzerland, Germany, Austria, Poland, Malaysia, Japan and Türkiye. Lion Capital is acquiring 170.000 shares of Hiestand.
«We are tremendously excited to make this investment in Hiestand. The group is a leading player in the most attractive sub-sector of the bakery market. We view ourselves as long-term strategic investors in Hiestand and are fully supportive of the management´s strategy», says Lyndon Lea, Partner of the hedge fund, in a statement. Lion Capital bought its stake from New York-based hedge fund Focus Capital, which has held shares in Hiestand since 2006.
Headquartered in London, Lion Capital is a leading investment firm focused on the consumer sector, with ownership of a diverse group of market-leading, branded consumer businesses, including Vaasan + Vaasan, the leading manufacturer of baked goods in Finland and the Baltic states, and Weetabix, a leading manufacturer of ready-to-eat cereals and cereal bars in the United Kingdom. The Irish IAWS Group PLC also has a 32 percent stake in Hiestand. In Switzerland, a takeover offer is mandatory if any group holds more than 33 percent of a company.
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