BEWI’s trading business merge with stok emballage

Creating a North European leader in protective packaging solutions: STOK acquires BEWI’s packaging trading business for cash and shares in the combined company

STOK announces today that it has entered into a binding agreement to carve out BEWI’s trading packaging activity (“BEWI Food”), to form a leading Northern European packaging solutions business. BEWI will reinvest a significant proportion of its proceeds in the combined company.

“This transaction marks a pivotal milestone that will greatly accelerate STOK’s exciting growth trajectory and is reflective of our plans to become a leading international packaging solutions business. We look forward to welcoming our new colleagues from BEWI Food to our expanded business. Together we will leverage the expertise, manufacturing capabilities, product portfolio, and route-to-market infrastructure of the combined group to continue strengthening our overall market proposition, allowing us to provide more comprehensive solutions to customers across the Nordics and Iceland”, says Martin Frederiksen, CEO of STOK.

BEWI Food has a solid position within food packaging in Norway and Iceland, with a particular focus on the seafood industry, and generates net sales of approximately EUR 75 million. The business serves a loyal and long-standing customer base through strategically located warehouses across Norway and Iceland and provides specialised packaging solutions tailored to customers’ requirements. The complimentary combination of STOK and BEWI Food creates a leading packaging distributor across Denmark, Norway, Iceland and Greenland. In 2023 the combined company will have annual sales of close to EUR 190 million and a clear strategy for further growth.

The acquisition aligns with STOK's strategy, supported by its owners, A&M Capital Europe, the Stok family and management, to pursue opportunities in existing and new markets to strengthen its service offering and accelerate international growth.  

"The combination will reinforce STOK’s presence in the Nordics and Iceland and allow both STOK and BEWI Food to broaden their product range and provide more comprehensive solutions to customers’ packaging needs.", Frederiksen continues.

The agreed consideration will be settled in cash and a minority ownership position for BEWI ASA, through its subsidiary BEWI Norway, in the combined company. Closing of the transaction is expected to take place during the fourth quarter of 2024 or first quarter of 2025.

Contact

For media queries, please contact:
Robert Brown, Reputation Inc
rbrown@reputation-inc.com
+353 85725 2626

About STOk Emballage

Founded in 1978 and headquartered in Langeskov, Denmark, STOK Emballage is a leading one-stop-shop distributor of protective packaging, offering a comprehensive range of customisable and standard packaging materials, on-site machinery services, warehousing solutions and advisory services. With a leading position in Denmark and a rapidly expanding international presence, STOK caters to a diverse customer base across the food & beverage, consumer lifestyle, industrial, and healthcare sectors. The company has historically experienced strong organic and acquisitive growth, completing 13 acquisitions over the last 26 years, five of which were in the previous three years.

STOK is owned by funds advised by A&M Capital Europe, the Stok family and management, and has a strong heritage and innovative mindset, achieving significant growth through both strategic excellence and successful acquisitions.

About BEWI ASA

BEWI is an international provider of packaging, components, and insulation solutions, generating more than EUR 1 billion in revenue. BEWI’s traded food packaging business is currently reported under the Packaging & Components segment and includes net sales of approximately EUR 75 million.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.