Duni acquires a 75% stake in BioPak

Swedish packaging supplier Duni has acquired a majority stake in Australian packaging company BioPak for approximately SEK410 million (AUD63 million).

BioPak supplies sustainable disposable packaging for the food service industry in Australia and New Zealand. Under the deal, BioPak’s range of sustainable packaging solutions will be rapidly launched across Europe and the Asia Pacific (APAC) region in an attempt to fight the war on waste and reduce the negative impact of single-use packaging.

“We have admired BioPak’s consistent promise to provide sustainable products to the foodservice industry and are now looking forward to collaborating with Gary, Richard and their fantastic team in our common mission. This acquisition perfectly meets our strategic ambitions of growing in sustainable packaging and in building a stronger business in the APAC region,” said Duni CEO Johan Sundelin.

According to Duni, there is a supplementary payment of approximately SEK24 million (AUD3.7 million) for an additional 5% of the shares after two years, and a put and call option for the remaining 20% of shares after five years.

BioPak’s three subsidiaries will be consolidated under the Business Area New Markets as part of Duni Group, while BioPak will remain a separate company and continue to trade as BioPak. The BioPak founders will still be active in the company and will remain part of the management team.

Founder Richard Fine said: “With Duni’s scale and our influence, we now have an opportunity and the resources to solve the environmental problems associated with single-use disposable packaging on a global scale. We will continue to expand our influence in the industry and play a positive role in society.”

Image credit: ©stock.adobe.com/au/Arpad Nagy-Bagoly