Mellby GÅRD takes majority stake in Duni Group
Context
Mellby Gård AB crossed the 30% mandatory bid threshold in August 2023, a maneuver designed to fundamentally transition its role from the largest shareholder to the controlling parent of Duni Group. The strategic rationale for this transaction centers on a "long-term conviction" play, merging the target's industry-leading technical operational depth in circular dining solutions with the group’s established reputation as a stable, decentralized partner. This structural alignment provides the organization with the strategic certainty required to execute a multi-year transition toward reusable packaging and bio-based materials.
Duni Group, which reported an EBITDA margin of [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, standing directly in line with the average observed in the Industry & Manufacturing sector (11.1x in 2023).
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Target
Duni Group is a Sweden company specialized in Sustainable Dining & Food Packaging Solutions. The company has carved out a distinct space in the global restaurant and hospitality market by focusing on high-quality, circular table setting and packaging concepts. Instead of providing generic single-use plastics, they thrive on a philosophy of "sustainable dining," utilizing renewable materials like paper and plant-based bioplastics under brands such as Duni and BioPak. What makes them a go-to partner for the HoReCa (Hotel, Restaurant, Café) sector is their knack for combining aesthetic design with a rigorous environmental agenda, helping clients meet tightening EU regulations on waste.
Ent. Value
SEK 1–10bn
Equity Value
[members only]
Multiples
EV / Revenue
below 1.5x
EV / EBITDA
5x–12x
EV / EBIT
15x–25x
Historical Financials (SEK)
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 11/2023 | CRH | MARTIN MARIETTA STCC | UNITED STATES | Construction Materials |
| 11/2023 | CLAYTON, DUBILIER & RICE (CD&R) | VERITIV CORPORATION | UNITED STATES | Packaging & Containers |
| 09/2023 | ATHENA HOLDING | TESSILBIELLA | ITALY | Material Transformation |
| 08/2023 | APOLLO GLOBAL MANAGEMENT / IRENIC CAPITAL | ARCONIC | UNITED STATES | Metallurgy / Foundry |
| 07/2023 | AGIC CAPITAL | PURE TRADE WORLDWIDE | FRANCE | Packaging & Containers |
| 07/2023 | MICHELIN | FLEX COMPOSITE GROUP | FRANCE | Plastics |
| 05/2023 | ARKEMA | POLYTEC PT | GERMANY | Plastics |
| 05/2023 | TRAJAN | ESSENCES & PARFUMS | FRANCE | Flavors & Fragrances |
| 04/2023 | STIRLING SQUARE CAPITAL | TAPÌ | ITALY | Packaging & Containers |
| 04/2023 | TIKEHAU CAPITAL / SAFRAN / AIRBUS | AUBERT & DUVAL | FRANCE | Metallurgy / Foundry |
REFERENCES
Valuation range: EV SEK 1–10bn
Revenue range: SEK 1–10bn
EBITDA range: SEK 450–900M
EV/Revenue range: below 1.5x
EV/EBITDA range: 5x - 12x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Duni Group by Mellby GÅRD are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: duni group
Acquirer: mellby gård
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