25-550: Valora is a Swiss retail and food service holding company . The company was acquired on 7 October 2022 by FEMSA . Valora goes back to the Schweizer Chocoladen & Colonialhaus, which was founded in Olten, Switzerland in 1905, which later became known as Merkur AG. The company was initially created to sell coffee and chocolate. In 1986, Merkur AG was made into a holding company , Merkur Holding AG, and in 1996,
50-495: A tiered structure . Holding companies are also created to hold assets such as intellectual property or trade secrets , that are protected from the operating company. That creates a smaller risk when it comes to litigation . In the United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed. That is, if Company A owns 80% or more of
75-526: A matter of broadcast regulation . In the United States, a personal holding company is defined in section 542 of the Internal Revenue Code . A corporation is a personal holding company if both of the following requirements are met: A parent company is a company that owns enough voting power in another firm (or subsidiary ) to control management and operations by influencing or electing its board of directors . The definition of
100-425: A parent company differs from jurisdiction to jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. When an existing company establishes a new company and keeps majority shares with itself, and invites other companies to buy minority shares, it is called a parent company. A parent company could simply be a company that wholly owns another company, which
125-472: A tending subsidiary of the purchasing company, which, in turn, becomes the parent company of the subsidiary. (A holding below 50% could be sufficient to give a parent company material influence if they are the largest individual shareholder or if they are placed in control of the running of the operation by non-operational shareholders.) In the United Kingdom, the term holding company is defined by
150-466: Is defined by Part 1.2, Division 6, Section 46 of the Corporations Act 2001 (Cth) , which states: A body corporate (in this section called the first body) is a subsidiary of another body corporate if, and only if: Toronto-based lawyer Michael Finley has stated, "The emerging trend that has seen international plaintiffs permitted to proceed with claims against Canadian parent companies for
175-458: Is sometimes done on a per- market basis. For example, in Atlanta both WNNX and later WWWQ are licensed to "WNNX LiCo, Inc." (LiCo meaning "license company"), both owned by Susquehanna Radio (which was later sold to Cumulus Media ). In determining caps to prevent excessive concentration of media ownership , all of these are attributed to the parent company, as are leased stations , as
200-444: Is then known as a " wholly owned subsidiary ". Share capital A corporation 's share capital , commonly referred to as capital stock in the United States, is the portion of a corporation's equity that has been derived by the issue of shares in the corporation to a shareholder, usually for cash . Share capital may also denote the number and types of shares that compose a corporation's share structure. In accounting ,
225-480: The Companies Act 2006 at section 1159. It defines a holding company as a company that holds a majority of the voting rights in another company, or is a member of another company and has the right to appoint or remove a majority of its board of directors, or is a member of another company and controls alone, pursuant to an agreement with other members, a majority of the voting rights in that company. After
250-632: The financial crisis of 2007–2008 , many U.S. investment banks converted to holding companies. According to the Federal Financial Institutions Examination Council 's website, JPMorgan Chase , Bank of America , Citigroup , Wells Fargo , and Goldman Sachs were the five largest bank holding companies in the finance sector, as of December 2013 , based on total assets. The Public Utility Holding Company Act of 1935 caused many energy companies to divest their subsidiary businesses. Between 1938 and 1958
275-639: The Ditsch / Brezelkönig group of companies, a distributor of Pretzel nationwide, for 100 million euros. In October 2013, Michael Müller was named CEO of the group. In 2014, Valora sold Valora Services to Thomas Kirschner, the majority shareholder of Presse-Vertriebs-Gesellschaft. On the other hand, the small-scale retailer Naville in French-speaking Switzerland was acquired. In 2015, Valora was preparing to launch consumer loans available throughout its network of kiosques. The company completed
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#1732797416604300-460: The USA makes Valora one of the world's leading producers of pretzels. Holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own stock of other companies to form a corporate group . In some jurisdictions around
325-455: The United Kingdom, is generally held that an organisation holding a 'controlling stake' in a company (a holding of over 51% of the stock) is in effect the de facto parent company of the firm, having overriding material influence over the held company's operations, even if no formal full takeover has been enacted. Once a full takeover or purchase is enacted, the held company is seen to have ceased to operate as an independent entity but to have become
350-499: The allegedly wrongful activity of their foreign subsidiaries means that the corporate veil is no longer a silver bullet to the heart of a plaintiff's case." The parent subsidiary company relationship is defined by Part 1, Section 5, Subsection 1 of the Companies Act, which states: 5.—(1) For the purposes of this Act, a corporation shall, subject to subsection (3), be deemed to be a subsidiary of another corporation, if — In
375-589: The company was renamed to today's Valora Holding AG. In 2009, Valora generated 3 billion Swiss francs in turnover and employed 6,500 staff (on a full-time equivalent basis). Valora Trade took over Engelschiøn Marwell Hauge AS (EMH) in 2010 and thus opened up the sales and distribution of cosmetic products in Norway. In 2011, Valora Trade took over Scandinavian Cosmetics (ScanCo) and thus acquired access to cosmetic distribution in Sweden. In 2012, Valora has acquired
400-510: The constituents that make up a company's real share capital: This is differentiated from share capital in the accounting sense, as it presents nominal share capital and does not take the premium value of shares into account, which instead is reported as additional paid-in capital. Legal capital is a concept used in European corporate and foundation law , United Kingdom company law , and various other corporate law jurisdictions to refer to
425-657: The end of the year, Valora acquired the German snack professional Back-Factory and announced the rollout of around 300 k kiosk vending machines throughout Switzerland by the end of 2022. In June 2022, Valora strengthened its collaboration with Oel-Pool / Moveri and announced the conversion of another 71 of the service station shops into avec stores. In July 2022, Valora acquired Frittenwerk, a trendy format based in Germany. In 2022, Fomento Económico Mexicano (FEMSA) announced an acquisition of Valora for up to $ 1.2bn. The acquisition
450-611: The formats k kiosk, Press & Books, avec, cigo, ServiceStore DB, U-Store and the own brand ok.– as well as a range of digital services. The Valora Food Service division comprises more than 700 small-scale points of sale at highly frequented sites in Switzerland, Germany, Luxembourg, Austria and the Netherlands. The division includes the formats BackWerk, Ditsch, Brezelkönig, Frittenwerk, Caffè Spettacolo and SuperGuud. The Brezelbäckerei Ditsch with production sites in Germany and
475-709: The in-house pretzel production. Valora's around 2,700 small-scale points of sale of Valora are located at highly frequented locations in Switzerland, Germany, Austria, Luxembourg and the Netherlands. Around 15 000 employees work in Valora's network. In 2021, Valora produced around 730 million baked goods with its 16 production lines operated by Brezelbäckerei Ditsch in Germany and the US and by Brezelkönig in Switzerland. The Valora Retail division comprises more than 2,000 small-scale points of sale at highly frequented sites in Switzerland, Germany, Luxembourg and Austria. The division includes
500-571: The number of holding companies declined from 216 to 18. An energy law passed in 2005 removed the 1935 requirements, and has led to mergers and holding company formation among power marketing and power brokering companies. In US broadcasting , many major media conglomerates have purchased smaller broadcasters outright, but have not changed the broadcast licenses to reflect this, resulting in stations that are (for example) still licensed to Jacor and Citicasters , effectively making them such as subsidiary companies of their owner iHeartMedia . This
525-442: The sale of its Trade division to Aurelius Group. In 2017, Valora acquired the franchise business BackWerk based in Germany as well as the pretzel producer Pretzel Baron in the US. In 2019, the company launched the autonomous, cashier-free convenience store avec box at Zurich main station. In mid-2021, Valora announced a collaboration with Moveri and the takeover of the operation of 39 service station stores with its avec format. At
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#1732797416604550-413: The share capital of a corporation is the nominal value of issued shares (that is, the sum of their par values , sometimes indicated on share certificates). If the allocation price of shares is greater than the par value, as in a rights issue, the shares are said to be sold at a premium (variously called share premium , additional paid-in capital or paid-in capital in excess of par). This equation shows
575-540: The stock of Company B, Company A will not pay taxes on dividends paid by Company B to its stockholders, as the payment of dividends from B to A is essentially transferring cash within a single enterprise. Any other shareholders of Company B will pay the usual taxes on dividends, as they are legitimate and ordinary dividends to these shareholders. Sometimes, a company intended to be a pure holding company identifies itself as such by adding "Holding" or "Holdings" to its name. The parent company–subsidiary company relationship
600-410: The world, holding companies are called parent companies , which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for the shareholders , and can permit the ownership and control of a number of different companies. The New York Times uses the term parent holding company . Holding companies can be subsidiaries in
625-414: Was completed on 7 October 2022. The Valora Group comprises the two divisions Retail and Food Service. The former includes the formats k kiosk, avec, Press & Books, cigo, ServiceStore DB und U-Store formats. The Food Service division comprises the formats BackWerk, Ditsch, Brezelkönig, Caffè Spettacolo, Frittenwerk and SuperGuud. The company also includes own brands such as ok.– and bob Finance as well as
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