Bewi’s trading business merges with Stok Emballage for Scandinavian food packaging
Bewi, a provider of packaging, components and insulation solutions, has planned to merge its trade food packaging business with Stok Emballage (Stok) to create a major Northern European packaging business. Bewi will receive €20 million (US$21.7 million) in cash and a 15% ownership stake in the newly combined entity. The transaction is expected to close by the fourth quarter of 2024 or first quarter of 2025.
Bewi’s traded food packaging business, part of its Packaging & Components segment, includes net sales of around €75 million (US$ 81.2 million), primarily serving the seafood industry in Norway and Iceland.
Stok, a protective packaging distributor, operates in Denmark and Greenland, with warehouses in Denmark, Greenland and Norway. The merger will form a consolidated packaging leader in Northern Europe, with an estimated €190 million (US$205.8 million) in annual sales.
“Partnering with Stok presents a unique opportunity to further expand the traded food packaging business with a highly capable partner. We are truly looking forward to joining forces with their team of industry experts,” says Christian Bekken, CEO of Bewi.
“They have an impressive track record of profitable growth over several years, and their broad and diverse product portfolio complements ours very well, creating a strong potential for synergies and further growth opportunities.”
Safety and sustainability
Stok supplies packaging products made from a variety of materials, including cardboard and plastics. According to Innova Market Insights, plastic remains the chief material used for fish product launches, as it is one of the most important and carefully regulated areas of the industry.
“Together, we will leverage the expertise, manufacturing capabilities, product portfolio and route-to-market infrastructure of the combined group to continue strengthening our overall market proposition, allowing us to provide more comprehensive solutions to customers across the Nordics and Iceland,” says Martin Frederiksen, CEO of Stok.
Stok’s services span packaging products, machinery, logistics along with regulatory and compliance advice. Bewi expects the merger to simplify its business structure and enhance financial flexibility for future growth.
This move aligns with Bewi’s strategy to focus on insulation and energy-efficient solutions by building collaborations and increasing exposure to targeted segments.
