Bayn Europe changes name to Bayn Group AB
Bayn Europe AB ("Bayn"), a foodtech group in sugar-reduced foods, announces today that the company has changed its name to Bayn Group AB.
"The new strategy that the board has developed fits very well with our growth ambitions and the name change reflects the multiple companies that the group now includes. It feels incredibly exciting that we have come this far in such a short period of time and where our journey has only just begun. We see many interesting acquisition opportunities in the future, well fit to be part of the group we are building.", says Peter Werme, Chairman of the Board Bayn Group AB
Bayn Group (formerly Bayn Europe) has historically had a business model with technology adaptation and sales of stevia. In recent years, the company business model has developed towards a technology focus by developing its own process technology to create new composite ingredients that replace sugar 1:1, under the EUREBA brand.
Since the start of 2020, the company has made a strategic acquisition of Pändy Foods, where new investors, board members and management have joined the company. Following the acquisition, a new strategy was announced with high growth targets and a focus on both organic growth and through carefully selected acquisitions, with the intention of strengthening the Group technically and financially.
A central part of Bayn Group's new business model is to actively identify, evaluate and acquire interesting and fast-growing foodtech companies in the healthier food segment. During the year, Bayn has so far made several acquisitions; Pändy Foods AB and Tweek AB and entered into an agreement to acquire Koppers Candy Sweden AB.
With the new acquisition strategy, it is natural that the Group's brand identity takes on a new form and changes its name to Bayn Group AB. The group has continued its vision of becoming a leading player in sugar and calorie-reduced foods, but where growth is now being strengthened through acquisitions of profitable and fast-growing companies in the segment.
The new brand identity will go live in the autumn of 2020.
For further information, please contact:
Simon Petrén, Vice President at Bayn Group AB (publ.)
Tel: +46 709 999 455Email: email@example.com
About Bayn Group AB (publ)
Bayn Group AB is a Swedish food-tech group, supplying cutting edge and healthy sugar reduction solutions for the food and beverage industry. Bayn’s ingredient solutions, refined through scientific research and extensive market experience, facilitate new formulations and recipes that improve the taste and texture of the next generation of sugar- and calorie reduced products. For more information www.bayneurope.com
Bayn is listed on Nasdaq Stockholm, First North Growth Market, under the ticker BAYN
FNCA Sweden AB is Bayn’s certified adviser. Tel: 08-528 00 399 E-mail: firstname.lastname@example.org