30 October 2024 – STOK, a portfolio company of A&M Capital Europe (“AMCE”), a London-based private equity firm with €650 million of commitments under management, has entered into a binding agreement to carveout BEWI’s trading business (“BEWI Food”), a leading distributor of food packaging in Norway and Iceland. BEWI will reinvest a proportion of its proceeds in the combined company. The acquisition of BEWI Food represents STOK’s first add-on since AMCE’s investment, less than six months after closing in April 2024.
We believe BEWI Food is a highly regarded and trusted supplier of food packaging in Norway and Iceland, with a particularly solid position in the fish and seafood market. The company expects to generate sales of more than €70m in 2024. We believe BEWI Food is a complementary combination with STOK, which together creates a leading packaging distributor in Denmark, Norway, Iceland, and Greenland and allows both STOK and BEWI to improve their customer offering by broadening their product range and providing more comprehensive solutions to customers’ packaging needs. The combined group is expected to have annual sales of approximately €190 million for 2024 and a clear strategy for further growth, both organically and through acquisitions.
STOK and AMCE were advised by Schjødt as legal adviser, EY as tax adviser, PwC as accounting adviser, West Monroe as IT adviser, ERM as environmental advisor and Alvarez & Marsal as operational adviser.
About STOK
Founded in 1978 and headquartered in Langeskov, Denmark, STOK Emballage is a leading one-stop-shop distributor of protective packaging, offering a comprehensive range of customisable and standard packaging materials, on-site machinery services, warehousing solutions and advisory services. With a leading position in Denmark and a rapidly expanding international presence, STOK caters to a diverse customer base across the food & beverage, consumer lifestyle, industrial, and healthcare sectors. The company has historically experienced strong organic and acquisitive growth, completing 13 acquisitions over the last 26 years, five of which were in the previous three years.
About A&M Capital Europe
AMCE is a London-headquartered private equity investment firm specialising in building pan-European platform companies through buy-and-build and organic growth initiatives. AMCE Fund I currently has €650 million of commitments under management, and BEWI Food represents AMCE’s twenty-fourth transaction across its eight portfolio companies. More broadly, AMCE is part of A&M Capital, a multi-strategy private equity investment firm that manages commitments totalling ~€5.5 billion across all its investment strategies. In addition, A&M Capital maintains a strategic association with Alvarez & Marsal, one of the world’s largest growth and operationally focused advisory firms. For additional information, please visit A&M Capital Europe’s website at www.a-mcapital.com.
