A fund managed Five V Capital completed the acquisition of 25% stake in BioPak Pty Limited from Duni AB (OM:DUNI) for AUD 65.8 million.
December 26, 2022
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A fund managed Five V Capital agreed to acquire 25% stake in BioPak Pty Limited from Duni AB (publ) (OM:DUNI) for AUD 65.8 million on December 13, 2022. The purchase price amounts to AUD 65.8 million out of that AUD 61.3 m is paid when the transaction is closed in December 2022 and AUD 4.5 million may be paid between Q3 2023 and Q3 2024 when certain predetermined conditions are met. Duni Group will after the transaction hold 53% of the shares in BioPak Pty Ltd. Following the transaction, Equistock Holdings 33 Pty Limited will hold 15% of the shares. The existing put and call option has thus been dissolved with a settlement amount of AUD 8.3 million to be paid on the closing date. Five V has a put option if a shareholder, other than Mellby Gård AB, would acquire minimum 40% of the shares in Duni Group. Following the Transaction, Five V will in total hold 30% of the shares in BioPak Pty Ltd. The remaining 2% is subject to vesting conditions under a staff share incentive scheme held by employees in the BioPak Group. The transaction completion is subject to customary closing conditions.
A fund managed Five V Capital completed the acquisition of 25% stake in BioPak Pty Limited from Duni AB (publ) (OM:DUNI) for AUD 65.8 million on December 27, 2022.
Duni AB is a Sweden-based company that designs, produces and markets table setting products. It also provides packaging and packaging systems to the take-away market. In March 2014, the Company introduced new organizational structure, based on five business areas. The Professional business area was divided in three separate ones: the Table Top, offering napkins, table coverings and candles for traditional restaurants in Europe; the Meal Service, manufacturing products for take-away packaging, serving and catering, targeting fast food segment; and the New Markets, active in geographic markets outside Europe. In addition, it is active in the Consumer business area, focused on the grocery retail trade; and the Materials and Services, comprising all other sales, such as tissue paper and hygiene products. Duni AB operates in over 15 countries and has production units in Sweden, Germany and Poland. In June 2014, it acquired 100% of the shares in the Paper+Design Group.