Another Swedish takeover made the news: Duni, a supplier of products for table setting and take-away headquartered in Malmö and with production units in Sweden, has acquired 75% shares in Kindtoo Ltd., trading as Biopac UK Ltd., from entrepreneurs Mark Brigden and Eric Graham.
Biopac is a leading supplier of sustainable disposable packaging for food and beverages in the UK. The acquisition will be consolidated into Business Area Meal Service.
Established in 2002, Biopac specializes in food packaging and service products created with sustainable materials with some 12 employees. The capacity to customize food and drink packaging to suit customer brands and a clear focus on sustainable products, has resulted in Biopac gaining significant market share in UK.
Biopac has an approximate annual turnover of SEK 55 m and operating margin well in line with Duni's Business Area Meal Service. The purchase of shares will affect Duni's net debt with about SEK 22 m, which is covered within existing loan facilities.
Johan Sundelin, CEO Duni welcomed Biopac into the Duni family, saying: "The clear shift in demand towards sustainable products in the restaurant and takeaway segments is a leading factor in this acquisition."
The Duni brand name is sold in more than 40 markets and enjoys a number one position in Central and Northern Europe. Duni has some 2,300 employees in 23 countries, and production units in Sweden, Germany, Poland, Thailand and New Zealand.