Bong Ljungdahl AB

Bong strengthens UK market position through acquisition of Image Envelope

Bong has acquired a 50% stake in Image Envelopes with an option to increase stake holding over the next three years. Image Envelopes are a specialist envelope manufacturer based in Milton Keynes with a specific focus on providing products to the Direct Mail market. The business was founded by Mark Jeffery and Giles Pedley in December 2006 and has quickly grown with 2008 revenues exceeding £2.7 Million. Commenting on the acquisition, Anders Davidsson, President and CEO of Bong said: “The acquisition is in line with Bong’s strategy to broaden our share of the direct mail market. This enhances our capabilities in the UK to offer a wide range of product solutions to our customers” Mark and Giles will continue to lead the business in their respective roles of Managing Director, Sales and Managing Director, Operations. Mark Jeffery said: “This offers us enormous possibilities to enhance our customers offering. We can maintain our flexibility and speed of service while enjoying the benefits the larger group leverage and a wider range of products” The acquisition will be effective on January 1, 2010 and is expected to make a positive contribution to group results during Q1.