Duni Acquires Shares In Biopak

This week, Duni, Sweden, acquired 75% of BioPak Pty Ltd,  Australia, from entrepreneurs Gary Smith and Richard Fine. BioPak is a leading supplier of sustainable disposable packaging for the food service industry in Australia and New Zealand, with an approximate annual turnover of SEK 385 million. The acquisition was consolidated into Business Area New Markets starting mid-October 2018.

BioPak was started in 2006 with the aim of offering the most sustainable, environmentally adapted packaging on the Australian market. Due to a highly demanded assortment built on fibers, paperboard, and bioplastics, as well as a quick and efficient delivery process, BioPak has grown quickly to a market leader in its field. Today, the company employs 26, has an approximate turnover of SEK 385 million, and exhibits strong growth. The company’s operating margin is well in line with Duni’s financial goals.

BioPak has three subsidiaries and will be consolidated under the Business Area New Markets as part of Duni Group. BioPak will, however, remain a separate company and continue to trade as BioPak. The founders will still be active in the company and part of the management team. Their long-term commitment is essential to continue the strong customer focused culture and its strong development.

Kindtoo Ltd., trading as Biopac U.K., was acquired by Duni on Feb. 8, 2018. Due to the synergies in product assortment and market approach between the two companies, a decision has been made to transfer the shares of Biopac U.K. to BioPak Pty Ltd. Biopac U.K. will, however, continue to be consolidated into Business Area Meal Service, as it is a European business.

"We have admired BioPak’s consistent promise to provide sustainable products to the food service 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 Johan Sundelin, CEO Duni.

"BioPak is on a significant growth journey, and we look forward to partnering with Duni to grow both within and outside of the APAC region. Duni shares BioPak’s key values regarding sustainability and customer prioritization, which will allow for a fruitful partnership in coming years," said Gary Smith, CEO BioPak.