Hannover Finanz exits Paper+Design in trade sale to Duni

The acquisition of the shares and the complete refinancing of Paper+Design group amounts to approximately €63m.

Duni produces table settings and accessories for home and business. Headquartered in Malmö, it has production units in Sweden, Germany and Poland. Its products are sold in more than 40 countries by its 1,900 employees. It had a turnover of SEK 3.803m in 2013.

Previous financing
Hannover Finanz acquired a majority stake in Paper+Design in January 2011 in a secondary buyout from Nord Holding. Corporate finance advisers @visory partners organised the transaction. Nord holding acquired Paper+Design in 2005 for €50m in an auction from private owners.

Company
Headquartered in Wolkenstein, Paper+Design employs approximately 200 people in its production, logistics and distribution departments. Founded in 1999, the group produces napkins for sale in garden centres, flower shops and stationers in 85 countries.

The group has a yearly turnover of €38m, up from €36m at the time of Hannover's acquisition in January 2011. Approximately 60% of the revenue generated is from outside Germany.

People
Thomas Gustafsson is president and CEO of Duni. Thomas Hübner is managing director of Paper+Design. Goetz Hertz-Eichenrode is board member of Hannover Finanz.

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• Topics
• DACH
• Consumer
• Exits
• Germany
• Trade sale