Pändy Foods was acquired by Bayn Europe AB

Pändy Foods AB, a Stcokholm, Sweden-based food manufacturer, announced entering into an agreement for being acquired by Bayn Europe AB.

Financial details of the deal were not disclosed. Bayn’s ownership will account for approximately 51% of the combined value of the group. The acquisition will be financed primarily through the issue of new shares.

Pändy, founded in 2015 by CEO Simon Petrén, is a production technology company that produces, sells and markets products under its own brand Pändy.

In 2019, the company had sales of approximately SEK 11.6 million ($1.2M).

Bayn Europe, led by CEO Patrik Edström, is a publicly listed (Nasdaq Stockholm) independent supplier of cutting edge and healthy sugar reduction solutions for the food and beverage industry.