Annual Report 2021

2. Changes in the Consolidation Scope and Non-Controlling Interests

In 2021, there have been no changes in the consolidation scope.

In December 2020 the Lindt & Sprüngli Group has signed an agreement to purchase the minority shares in Lindt & Sprüngli (Brazil) Comércio de Alimentos S.A., as disclosed in note 32 “Events after the Balance Sheet Date” of the annual report 2020. This agreement is to be treated as a forward contract according to IFRS. The purchase price of BRL 180.0 million therefore has been recognized in other accounts payable as of December 31, 2020, and reduced the consolidated equity. The minority shares in Lindt & Sprüngli (Brazil) Comércio de Alimentos S.A. have been purchased on January 27, 2021, for a purchase price of BRL 180.0 million (CHF 30.4 million). Since the Lindt & Sprüngli Group already possessed the majority share before the purchase and Lindt & Sprüngli (Brazil) Comércio de Alimentos S.A. thus was accounted for using the purchase method, the transaction has been accounted for as a pure capital transaction and hence resulted in an elimination of the remaining non-controlling interest.

The accounting for the Lindt & Sprüngli Retail S.r.l. acquisition, which took place in December 2020, was determined provisionally only. No material adjustments to the values previously reported were deemed necessary after having finalized the acquisition accounting in 2021. In 2021, the remaining CHF 1.5 million of the purchase price to be paid in cash have been settled. Except for the contingent consideration, the rest of the purchase price of CHF 13.7 million has already been settled in the year 2020. The contingent consideration of CHF 0.9 million included in the purchase price (CHF 0.8 million in prior year) will only be due if a defined minimum profit level is reached in 2022 or 2023. As of December 31, 2021, it is expected that this contingent consideration will become due.

The mergers of subsidiaries in Italy and Brazil executed in January 2022 are disclosed within note 32 “Events after the Balance Sheet Date”.