Livonia Partners is a pan-regional private equity fund focused on buyout and growth capital investments in small to mid-sized companies in Estonia, Latvia, and Lithuania. The Bagfactory investment is the fourth investment for Livonia Partners €157 million Fund II, announced in September 2022.
Bagfactory produces a non-woven R-PP, R-PET, and paper bag from recycled materials that are long-lasting and can be reused, and, at the end of their lifetime, can be easily collected and recycled. The company claims that in 2022 it manufactures 50 million multi-use environmentally–friendly bags.
“In 2022, with scientists from Kaunas University of Technology, we created a technological solution that will allow us to be the first in the world to manufacture carrier bags in an automated manner, from 100% recycled PET bottles. We will begin manufacturing these carrier bags this year. By the middle of 2023, we will also present another, more sustainable alternative to single-use plastic bags. I believe that we have every opportunity to become competitive leaders of sustainable innovation,” said the Chairman of the Bagfactory Board and the сo-founder, Marius Rumbinas.
/ TGS Baltic team successfully advised Livonia Partners in this investment. Congratulations to the client and the project team
Full article (LT language) https://bit.ly/3GZsdCk