STOK Emballage has warehouses in Denmark, Greenland, and Norway.
BEWI
BEWI has partnered with STOK Emballage to expand its traded food packaging business. The merger will be settled in €20 million in cash and an ownership stake in the combined company for BEWI of approximately 15%.
The supplier of packaging, components, and insulation solutions seeks to simplify the structure of its packaging business and provide more flexibility to its financial situation to accelerate growth and benefit its shareholders.
With this agreement, which is expected to be completed in the fourth quarter of 2024 or the first quarter of 2025, BEWI and STOK will jointly become a leading packaging distributor in Denmark, Norway, Iceland, and Greenland.
Regarding this opportunity to expand its business, BEWI CEO Christian Bekken said: "STOK is an ideal partner for our traded packaging business, and we are truly looking forward joining forces with their team of industry experts."
"They have an impressive track record of profitable growth over several years, and their broad and diverse product portfolio complements ours very well, creating a strong potential for synergies and further growth opportunities," he added.
About STOK Emballage
STOK Emballage was founded in 1978. It offers a comprehensive range of customizable and standard packaging materials, on-site machinery services, warehousing solutions, and advisory services.
The company has completed 13 acquisitions over the last 26 years, five of which were in the previous three years. It has warehouses in Denmark, Greenland, and Norway.
In 2023, STOK had sales of €113 million, thus the combined company will have annual sales of almost €190 million.
About BEWI ASA
BEWI is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from raw materials and end goods production to used products recycling.
BEWI's traded food packaging business is currently reported under the Packaging & Components segment and amounts to approximately €75 million in sales. This business has a solid position in Norway and Iceland, with a particular focus on the seafood industry.
Before the summer, BEWI opened a new circular hub in Norrköping, Sweden to expand its EPS (expanded polystyrene) recycling capacity by 40%.
