Swedish Duni Group has completed the acquisition of the British tableware company Poppies Europe. This merger strengthens Duni Group’s market position in sustainable catering solutions in the UK, while offering significant synergies between production, logistics, and distribution.
“We are pleased to welcome Poppies to our group of exciting brands in catering and food packaging solutions for the food service market. The acquisition further strengthens our market leadership in Europe and increases our distribution capabilities to customers in the UK and Ireland,” says Robert Dackeskog, President and CEO of Duni Group.
The merger provides synergies in production, with increased production of premium napkins and airlaid in Duni Group’s Rexcell paper mill. Additionally, the go-to-market models of both companies will be complementary and, combined with synergies, will increase the Group’s distribution capacity in the UK and Ireland.
Poppies produces a range of quality products primarily for the catering sector, made under the well-known Poppies brand, along with other customized brands such as McNulty Wray and Staples. The Poppies manufacturing facility is located between Liverpool and Manchester on a 12-acre site and distributes products both nationally and internationally.
Poppies has around 220 employees and annual net sales of approximately 620 million Swedish kronor, with profitability in line with Duni Group’s Dining Solutions business area. Duni Group will acquire 100% of the company on a cash- and debt-free basis for a purchase price of approximately 670 million Swedish kronor, of which 60% was paid at closing, with the remaining amount to be paid in three installments by the end of 2025 (20%), 2026 (10%), and 2027 (10%). The financing is covered by Duni Group’s current credit line.