Swedish Duni has acquired 100% of the shares in the Paper+Design Group. Paper+Design has a strong position in the premium segment for designed napkins primarily within the consumer market segment. The products are mainly sold through specialized retailers in Germany as well as in numerous other geographic markets.
Paper+Design is based in the eastern part of Germany and has approximately 200 employees working in production, logistics and sales at the site in Wolkenstein.
The product portfolio consists mainly of own manufactured designed paper napkins which are sold to consumers through specialized retailers such as stationery stores, garden centers, florists and home furnishings stores. Approximately 60% of sales are exported to more than eighty markets outside Germany.
Paper+Design has an annual turnover of approximately EUR 38 million. The Group consists of four companies which will be accounted for in the Duni Group's business area Consumer. The operating margin of approximately 20% will contribute positively to the profitability of the business area.
Purchase of shares and refinancing of the business will affect Duni’s net debt with approximately 63 MEUR. This is covered within the existing loan agreement.
"This is an acquisition that both complements and strengthens Duni’s range of offerings. With its great expertise in design, Paper+Design creates new opportunities both in the grocery retail trade as well as within specialized retailers, in Germany as well as other geographic markets," says Thomas Gustafsson, President and CEO of Duni.
