08.28.24
Duni Group will acquire a 70% stake in SETI, a maker of tabletop products and a longtime customer of its airlaid business.
“We are pleased to welcome SETI to our Group of leading brands in dining and food packaging solutions for the restaurant market. The acquisition broadens Duni Group’s reach and footprint in South East Europe,” says Robert Dackeskog, president and CEO.
SETI, based in Kranj, Sweden, is a converter for standard and customized high-technology tabletop products such as napkins, table covers and coasters made using airlaid and tissue.
“We are proud to join Duni Group. To pursue our collaboration in product offering will enable synergies along the value chain and provide complementary offerings to our long-lasting customer bases of European wholesalers”, says Aleš Šarec, CEO of SETI.
SETI will be consolidated into Duni Group’s Dining solutions business area beginning October 1. SETI has annual net sales of nearly $10 million, with profitability in line with Duni Group’s business area Dining solutions. Financing of the acquisition is planned to take place within Duni Group’s existing loan facility.
“We are pleased to welcome SETI to our Group of leading brands in dining and food packaging solutions for the restaurant market. The acquisition broadens Duni Group’s reach and footprint in South East Europe,” says Robert Dackeskog, president and CEO.
SETI, based in Kranj, Sweden, is a converter for standard and customized high-technology tabletop products such as napkins, table covers and coasters made using airlaid and tissue.
“We are proud to join Duni Group. To pursue our collaboration in product offering will enable synergies along the value chain and provide complementary offerings to our long-lasting customer bases of European wholesalers”, says Aleš Šarec, CEO of SETI.
SETI will be consolidated into Duni Group’s Dining solutions business area beginning October 1. SETI has annual net sales of nearly $10 million, with profitability in line with Duni Group’s business area Dining solutions. Financing of the acquisition is planned to take place within Duni Group’s existing loan facility.
