OVERVIEW
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.
Sustainability & WHY WE INVESTED
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.
KEY FACTS
- Sales: €10.5 million
- Investment date: 2023
TEAM
- Mindaugas Utkevičius
- Adolis Tarasevičius
Livonia Partners invests in Bagfactory, a sustainability innovator in the retail sector
Livonia Partners invests in fast-growing Bagfactory, a manufacturer of non-woven and paper bags to customers across Europe. The transaction is pending Competition Council approval, and is anticipated to conclude by the beginning of this summer.