Carlos Arenas Cadena

Valora Holding AG is a Switzerland-based trading company that is active in two segments: Valora Retail and Ditsch/Brezelkoenig. Valora Retail operates marketing and distribution systems for press, tobacco and consumer products for daily use and the impulse buyer's market through small retail outlets in Switzerland, Germany, Luxembourg and Austria, including the k kiosk, k presse + buch, avec., P&B, tabacon, ServiceStore DB, CIGO and Caffe Spettacolo. Ditsch/Brezelkoenig produces lye-bread and other bakery products in Germany and Switzerland, which are distributed both to its own agency outlets and to the wholesale sector. The Company operates through approximately 30 fully consolidated subsidiaries, such as Ditsch, Pretzel Baron, Cevanova AG, BackWerk, among others.