Duni divests shares in subsidiary BioPak to private equity firm Five V Capital
Duni AB has entered into an agreement to divest 25 per cent of the shares in BioPak Pty Ltd to Five V Capital Pty Ltd (Five V), and funds managed by Five V, a leading private equity and venture capital firm based in Australia.
The strategic partnership lays the foundation for delivering the next phase of growth for BioPak Group. Five V will be actively involved with management, Duni Group and Gary Smith (co-founder and CEO) as BioPak Group looks to grow its market-leading presence across existing and new markets.
BioPak Group with its subsidiaries in Australia, New Zealand, United Kingdom, United States and Singapore comprise approximately 60 percent of the turnover in Duni Group’s BioPak business area, which offers sustainable packaging solutions predominantly for meal packaging and food service purposes. Five V is a certified B Corporation with a natural focus on sustainable investments and has a strong track-record of helping businesses grow and expand both locally and internationally.
The completion of the transaction is subject to customary closing conditions and is expected to occur in December 2022.
Duni was advised by Mannheimer Swartling in the transaction