Bagfactory is a manufacturer of reusable non-woven and paper carrier bags sold to the largest European retail chains. The Company was founded in 2012 and based in Vilnius, Lithuania. Livonia acquired a controlling stake in Bagfactory to support continued growth of the Company working alongside the company's management team retaining a significant minority position.
Reusable carrier bags are expected to win market share from single-use plastic and paper bags due to a positive momentum from environmental laws and growing demand for sustainable carrier bags from customers. Bagfactory is well positioned to play a pivotal role in this transition by becoming one of the leading manufacturers of reusable carrier bags in Europe with great focus on sustainable innovation.