Bayn Group completes the acquisition of Koppers Candy Sweden AB
Bayn Group AB (publ) (“Bayn”), a foodtech group in sugar-reduced foods, has completed the acquisition of Koppers Candy Sweden AB (“Koppers”), a Swedish foodtech company that manufactures functional and sugar-reduced sweets, which was published on August 25, 2020.
Bayn has today taken over the shares in Koppers. Bayn has paid USD 367,000 of the aggregated purchase price of USD 847,000 for the shares in Koppers in cash to the seller. The remaining USD 480,000 of the purchase price shall be paid in two tranches over the next 10 months. The acquisition is financed with existing cash and will be consolidated in Bayn's financial reporting from the 1st of October 2020.
"The acquisition of Koppers is a natural step for us in the process of gaining control over the entire value chain and ensuring that we are at the forefront of our product development. Now we also have the opportunity to invest in a production facility close to production for EUREBA® and where we can effectively test new solutions. The acquisition is the first production facility that we acquire and is very important in a strategic aspect as we are now able to deliver and produce for the companies that contact us and want to buy finished products. We also see many clear synergy effects, e.g., significantly lower prices to produce the Tweek candy that is already produced there. It will be a welcome margin booster which means that we can invest even more in growth and fits perfectly into the acquisition agenda that we have for the Group going forward," said Simon Petrén, Vice President and M&A Manager in Bayn Group AB in connection with the execution of the share purchase agreement.
The merged group will continue to optimize and further develop the technological functions in manufacturing to launch additional products to the market. Bayn expects that the acquisition will result in several potential synergies and increased growth opportunities.
For further information, please contact:
Simon Petrén, Vice President at Bayn Europe AB (publ.)
Tel: +46 709 999 455
Bayn Group 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: email@example.com