BERLIN/FRANKFURT (awp International) – Investor Active Ownership Capital has joined mail-order meal kit company Hellofresh. It currently owns about 4.7 percent of the shares, according to a voting rights notice issued by MDax Group late Wednesday. Active Capital holds another 2 percent through certain instruments, bringing the total to about 6.7 percent.
“Hellofresh is going through a challenging period and is facing a contraction in its core business, but it has an attractive business model,” Active Ownership Capital commented on the move. They have “full confidence” in CEO Dominik Richter.
In the past, Active Ownership Capital has already caused turmoil at the pharmaceutical company Stada. In 2016, the investor called for a new chairman of the supervisory board and wanted to fill four more positions on the board.
The meal kit retailer is currently trying to regain the trust of investors and analysts. In the spring, Richter’s management scared investors away with a profit warning and scrapped medium-term targets. Things have recently started to improve again – Hellofresh performed better than expected in the second quarter. The board is counting heavily on the new ready-to-eat business to succeed./ngu/edh/he
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