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Accent Equity Partners acquires Eurowrap from Maj

11 Feb 2014

gift wrapSwedish private equity firm Accent Equity Partners has bought gift packaging maker Eurowrap from peer Maj Invest Equity in the fourth deal from its 2012 fund.

The Danish company supplies of gift packaging including gift wrap, gift tags, bows, ribbon and other related products. It operates a production facility in Denmark and has UK-based trading operations.

Eurowrap, which posted sales of DKK262m ($47.9m), said it plans to expand into new territories both organically and via acquisitions.

Accent Equity Partners CEO Niklas Sloutski said, “The European market for gift packaging is stable and non-cyclical in nature. Eurowrap’s management has built a strong position in Europe, with a tremendous customer base and Accent Equity will provide the resources for Eurowrap to pursue its expansion.”

Late last year confectionery retailer Candyking, which is also backed by Accent, cancelled its plans to list on the Stockholm Stock Exchange.

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