Acquisition of Sweden-based bakeware and coating services provider Runex by industrial baking pan producer American Pan, an Ohio-headquartered Bundy Baking Solutions company, is about as perfect an industry match as they come.
The agreement includes Runex's production, sales and service operations in Sweden, Norway and the UK, and marks expansion of American Pan in the European market, according to the Bundy news release announcing the deal.
"We are very excited about the future of Runex as part of the American Pan and Bundy organizations," Bundy Baking Solutions CEO Gilbert Bundy said in the Aug. 3 news release. "We have always been proud of our focus on serving bakers, and the American Pan team shares that same dedication, plus a strong history of innovation."
The deal allows American Pan to expand operations across Europe. The company operates in Skelmersdale and Irlam in the UK; Barcelona, Spain; and Alexandria, Romania.
Runex's coating operation, which had been in Luton, England, has now moved to American Pan's site in Skelmersdale where it will continue to provide refurbishment of Runex brand coatings. Runex Sweden and Norway operations will continue as before in their current facilities.
The merger is going to be great, Runex said in an Aug. 9 Facebook post.
"Together, #Runex and #AmericanPan will do great things for the #bakingindustry, specifically by enhancing our relationship with current customers and extending our reach to new ones, all while optimizing our #bakeware #manufacturing and #innovation capabilities," the post said. "We are so excited to begin this journey together!"