BDO acted as administrator and transaction advisor for Basis 57 nachhaltige Wassernutzung AG as part of the «Pre-pack procedure», through which the operational business was taken over by Swiss Lachs Gottardo AG.
Swiss Lachs Gottardo AG («Swiss Lachs») takes over the fish farming operations of Basis 57 nachhaltige Wassernutzung AG («Basis 57»).
Due to the challenging and demanding sales market and inflationary operating costs, Basis 57 faced financial challenges. As a result, provisional debt restructuring was applied for at the District Court Presidium Uri in December 2023, and BDO AG («BDO») was appointed as administrator. The administrator BDO managed to find an interested party in Swiss Lachs, which has been operating salmon farming in Switzerland for years and aims to continue and expand the operations of Basis 57.
Urban Camenzind, Director of Economic Affairs of the Canton of Uri, explicitly welcomes the takeover: «It is in the interest of the Canton of Uri that the fish farming operations in Erstfeld along with the jobs in the region can be maintained. With Swiss Lachs, a partner has been found that has proven track record in both farming and distribution.»
The transaction with Swiss Lachs includes the takeover of all operationally relevant assets, existing inventories, fish, and the majority of the employment relationships of Basis 57. The building lease plot, on which the breeding facility is located, is not part of the transaction. The Corporation of Uri exercised its pre-emption right in advance of the transaction. All of these procedures required judicial approval, which was granted by the District Court Presidium Uri.
The takeover allows Swiss Lachs to significantly expand its production capacities and thus strengthen its presence in the Swiss market. By integrating Basis 57, marketing and sales synergies are optimally utilized to further expand Swiss Lachs position as a leading provider of fresh, high-quality, and in-house smoked salmon in Switzerland.
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