Sweden's Bayn Europe has announced that it is to acquire Pändy Foods with the intention to create a strong and fast-growing international Food Tech Group. The two companies say they are uniquely placed in terms of technology, development of raw materials and production techniques to create the next generation of sugar-reduced and healthy food products.
Pändy products
Photo: Pändy Foods
Pändy is a relatively young production technology company that produces, sells and markets products under its own brand. In 2019, the company had sales of approximately SEK 11.6-million (€1.1-million) and is expected to have significant growth in 2020.
In a statement, Bayn said: "Together, the companies complement each other well with an increased technology level and strengthened position as a fast-growing raw material and product supplier. By covering the entire FMCG (fast-moving consumer goods) value chain, the group will focus on effective holistic testing and the launch of new innovations as well as having the necessary prerequisites needed to quickly establish new raw materials and products in the market."
The acquisition is still subject to the due diligence process and is also conditional on a decision by Bayn shareholders before a binding agreement is reached. The completed acquisition is expected to be completed later during Q1 of 2020.
Simon Petrén, CEO of Pändy Foods AB said: "We see a very exciting business opportunity in Bayn acquiring us and the Food Tech Group that we will build together. Developments in the market are fast and we are constantly being contacted by major players who want to collaborate with us and buy the technology and production with the product portfolio we provide. Together with the team at Bayn we see a great opportunity to grow significantly faster and act on incoming inquiries as well as create a leading company group for the future of healthy foods and sugar-reduced products."
Patrik Edström, CEO Bayn Europe AB said: "We have now collaborated with Pändy for a while, where we have noticed the clear synergy effects and the opportunities that we would pose as a united business group. The companies complement each other very well, both organisationally, fundamentally and visionary. We see this as a natural next step in the company’s development. Together we become a total supplier from field to fork for raw materials to finished consumer products. We are already well advanced in the process of launching several new products, where Pändy will in future become a state-of-the-art showcase to other brands that the product and raw materials works all the way out to the end consumer."
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