The company's purpose is to operate bakeries and confectioneries, as well as to trade in baked goods, baking raw materials or similar products, and to import and export goods of all kinds. The company may establish branches and subsidiaries in Switzerland and abroad, participate in other companies in Switzerland and abroad, and conduct all business that is directly or indirectly related to its purpose. The company may acquire, encumber, sell and manage real estate in Switzerland and abroad. It may also provide financing for its own account or for the account of third parties, and grant securities for liabilities of affiliated companies.