Duni Group Acquires UK-based Paper Tableware Producer Poppies Europe for SEK 670 Million

Poppies manufactures a quality product range predominantly for the catering sector, produced under the well-recognized Poppies brand name.

Jan. 2, 2025 - Duni AB (Duni Group) on Dec. 18, 2024 signed an agreement to acquire the UK-based paper tableware producer Poppies Europe Ltd for a fixed purchase price of approximately SEK 670 million, whereof 60 percent will be paid upon closing and the remaining amount will be paid in three instalments by the end of 2025 (20%), 2026 (10%) and 2027 (10%).

Poppies manufactures a quality product range predominantly for the catering sector, produced under the well-recognized Poppies brand name, along with other bespoke labels such as McNulty Wray and Staples. Poppies' production facility is located in St Helens, Merseyside, England. The company has approximately 220 employees and annual net sales of approximately SEK 620 million.

According to Duni Group, the acquisition provides synergies within manufacturing, with increased premium tissues and airlaid production in Duni Group's paper mill Rexcell. In addition, the go-to-market models of the two companies will be complementary and, combined with synergies across logistics and distribution, increase the Group's distribution capacity in the UK and Ireland.

"We are pleased to welcome Poppies to our Group of attractive brands in dining and food packaging solutions for the restaurant market," said Robert Dackeskog, President and CEO of Duni Group. "The acquisition further strengthens our market-leading position in Europe and increases our distribution capacity to customers in the UK and Ireland."

Duni Group noted that the acquisition is subject to regulatory approval in the UK and customary closing conditions and is expected to be completed in the first half of 2025.

Duni Group is a market leader in sustainable dining and food packaging solutions for the restaurant market. The Group markets and sells its products under primarily the brands Duni, BioPak and Paper+Design, which are represented in more than 40 markets. Duni Group has around 2,500 employees in 23 countries with headquarters in Malmö, Sweden, and production units in Sweden, Germany, Poland, Slovenia and Thailand.

SOURCE: Duni Group