The food packaging industry in the Nordics focuses on providing safe and sustainable packaging solutions for food products. This sector is home to a mix of companies, from traditional manufacturers and innovative startups to large multinationals, all aiming to develop eco-friendly materials and technologies. The industry is increasingly leaning towards sustainability, driven by consumer demand and regulatory pressures. Notably, innovations in biodegradable plastics and smart packaging solutions are on the rise, enhancing food safety and reducing waste. As companies seek to minimize their environmental footprint, the industry is set for substantial growth and transformation.


In 2024, the Nordic food packaging investment scene featured a mix of corporate and private investors based in countries like Sweden, Finland, and Norway. Established firms such as Huhtamaki and Altor Equity Partners engaged in varying deal counts, reflecting a robust investment environment. Investors varied in size, from small teams to larger organizations, signaling the broad participation across this arena. With a firm foundation established since the late 1900s, these investors collectively executed numerous transactions, focusing on innovation and sustainability in food packaging.


Top 16 Food Packaging Investors in the Nordics


1. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Among its notable transactions, EQT has made significant investments in the food packaging industry, including the acquisition of Færch Plast A/S, a market leader in rigid plastic packaging for ready meals and protein food trays, and the complete acquisition of Duni AB, a company focused on food packaging solutions. These strategic investments highlight EQT's commitment to the food packaging sector and its capability to drive growth in this industry.


2. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It provides loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden, aiming to enhance their growth and competitiveness through tailored financial solutions. Almi Invest, a branch of Almi, has been involved in several transactions that highlight its commitment to supporting innovative companies. Notably, Almi participated in the funding round for GAIA BioMaterials, which focuses on sustainable materials, potentially applicable in food packaging. Additionally, their investment in Hoting Innovations, which is setting up a production facility, could also relate to advancements in packaging technologies. These transactions reflect Almi's broader interest in supporting companies that may contribute to the food packaging sector.


3. Katapult

  • Website: katapult.vc
  • Type: Venture Capital
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They focus on tech startups that address global challenges, providing investment, accelerator programs, and mentorship to early-stage companies. Katapult has been involved in several transactions relevant to the food packaging industry, notably their investment in Better Packaging Co., which raised $5 million in a Series A funding round to expand its sustainable packaging solutions globally. Additionally, they have participated in funding rounds for companies like Fortuna Cools, which, while primarily agritech, also intersects with sustainable packaging through its innovative products. These transactions highlight Katapult's engagement with sustainability in packaging, making them a relevant player in the food packaging investment space.


4. Indutrade Life Science

  • Website: indutrade.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 1001-5000
  • Number of deals in 2024: 14
  • LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company is part of an industrial group that focuses on developing and acquiring companies with high technical expertise across various sectors, including technology and industrial products. Indutrade emphasizes long-term relationships with its customers and operates through a decentralized structure, allowing its subsidiaries to maintain independence while benefiting from the group's resources. Notably, Indutrade has made significant acquisitions relevant to the food packaging industry, such as Verbeeck Packaging NV, which specializes in packaging solutions. This acquisition, along with others like BL Products AB, showcases Indutrade's commitment to expanding its footprint in the food packaging sector, making it a relevant player in this industry.


5. Orkla ASA

  • Website: orkla.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: orkla-asa

Orkla ASA is a leading industrial investment company based in Oslo, Norway, founded in 2017. It operates across various sectors, including branded consumer goods, aluminium solutions, and financial investments. Orkla is particularly prominent in the food industry, offering a diverse range of products such as food, snacks, health, and personal care items. The company has made several strategic acquisitions to strengthen its position in the food sector, including:1. **Arne B. Corneliussen**: Acquired to enhance Orkla's growth platform in the food industry, this Norwegian ingredients company had a turnover of approximately $23.45 million in 2016.2. **Kanakis**: Orkla acquired a controlling stake in this Greek ingredients business, further expanding its portfolio in the food sector.3. **Hamé**: This acquisition of a leading branded food company in the Czech Republic and Slovakia for EUR 175 million significantly increased Orkla's presence in Central Europe.4. **Igos**: By acquiring this Danish company specializing in fruit fillings and bakery products, Orkla aimed to enhance its product assortment in Scandinavia and Northern Europe.5. **Hadecoup**: This acquisition of a 70% stake in a Belgian company specializing in ice cream ingredients strengthens Orkla's position in the Benelux region.These transactions illustrate Orkla's commitment to expanding its operations in the food industry, which inherently includes food packaging as a vital aspect of its business.


6. Huhtamaki

  • Website: huhtamaki.com
  • Type: Corporate
  • Headquarters: Espoo, Uusimaa, Finland
  • Founded year: 1920
  • Headcount: 10001+
  • LinkedIn: huhtamaki

Huhtamaki is a leading food packaging manufacturer based in Espoo, Uusimaa, Finland, founded in 1920. The company specializes in sustainable packaging solutions for the food service industry, offering a diverse range of products including disposable tableware, flexible packaging, and molded fiber packaging. Huhtamaki's clientele primarily consists of quick service restaurants and retail operators that require safe and hygienic packaging for food and beverages. In recent years, Huhtamaki has made significant acquisitions to bolster its position in the food packaging market. Notable transactions include the acquisition of Elif, a global sustainable flexible packaging supplier, for €412 million, aimed at enhancing technological capabilities and expanding product range. Additionally, the acquisition of Delta Print and Packaging Ltd. for £80 million strengthened Huhtamaki's position in the European foodservice packaging market. Other relevant acquisitions include Prisma Pack Indústria de Filmes Técnicos e Embalagens Ltda in Brazil and Jiangsu Hihio-Art Packaging in China, both aimed at expanding Huhtamaki's footprint in key markets and enhancing its product offerings in food packaging.


7. BEWI Group

  • Website: bewi.com
  • Type: Corporate
  • Headquarters: Solna, Stockholm, Sweden
  • Founded year: 1980
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: bewisynbra

BEWI Group, founded in 1980 and based in Solna, Stockholm, Sweden, is a corporate investor specializing in manufacturing packaging, insulation, and automotive components. The company is dedicated to providing sustainable solutions that minimize environmental impact while ensuring product safety. Notably, BEWI Group has been involved in several significant acquisitions that enhance its capabilities in the packaging sector. For instance, the acquisition of Nordic Emballasje in 2020 aimed to expand their product portfolio and geographic reach in the insulation and packaging solutions market. Additionally, their acquisition of Trondhjems Eskefabrikk and Aislenvas further demonstrates their commitment to strengthening their position in the packaging industry. These transactions highlight BEWI Group's active role in the food packaging market, particularly through their focus on innovative and sustainable materials.


8. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in providing consulting services across various sectors, including technology and consumer products. Altor focuses on enhancing operational efficiency and sustainable growth for its partners through tailored investment strategies and digital transformation solutions. Notably, Altor has made significant investments in the food packaging sector, including the acquisition of Trioworld, a key player in the food packaging industry, in April 2018. Additionally, they have been involved with companies like OptiGroup, which operates in related sectors, further demonstrating their engagement in the broader packaging and consumer goods landscape.


9. Accent Equity


Accent Equity is a private equity firm based in Stockholm, Sweden, founded in 1994. The firm specializes in investments in private Nordic companies, focusing on creating sustainable growth and superior returns through strategic management and investment. Among its notable transactions, Accent Equity acquired Eurowrap Group in 2014, a company involved in the packaging industry, which highlights its engagement in the food packaging sector. Additionally, the firm has made several other acquisitions, including Tempcon Group and Triarca, which, while not directly related to food packaging, demonstrate Accent Equity's broad investment strategy across various sectors. Their expertise in investment management benefits a diverse clientele, including businesses in the food packaging industry.


10. Chalmers Ventures


Chalmers Ventures is a venture builder and tech investor based in Sweden, founded in 2015. They focus on deep tech innovations and support researchers and entrepreneurs in commercializing their technology through various programs. Their model emphasizes active ownership and investment in startups, helping them scale and succeed in the market. Notably, Chalmers Ventures has invested in companies like Micvac, which raised funds in 2017 and 2022 and specializes in food packaging solutions, and Aquafood AB, which raised funds in 2021 and 2023 and is involved in food technology. These transactions highlight their engagement in the food packaging and technology sectors, reinforcing their relevance as an investor in this space.


11. Lagercrantz Group AB

  • Website: lagercrantz.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2001
  • Headcount: 1001-5000
  • Number of deals in 2024: 6
  • LinkedIn: lagercrantz

Lagercrantz Group AB is a technology group based in Stockholm, Sweden, founded in 2001. The company operates approximately 80 subsidiaries that provide specialized technical solutions across various sectors, including Electrify, Control, and TecSec. Their business model emphasizes acquisitions and organic growth, catering primarily to business customers seeking tailored technology solutions. Notably, Lagercrantz has made strategic acquisitions that enhance its portfolio in niche markets. One significant transaction was the acquisition of Asept International AB in 2013, a company specializing in dispensing systems for liquidized foods, which aligns with the food packaging industry. This acquisition is expected to positively impact Lagercrantz's Niche Products division. Additionally, their other acquisitions, while not directly related to food packaging, demonstrate their strategy of expanding into various specialized markets.


12. Finnfund

  • Website: finnfund.fi
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1980
  • Headcount: 51-200
  • Number of deals in 2024: 7
  • LinkedIn: finnfund

Finnfund is a not-for-profit development financier and impact investor based in Helsinki, Finland, founded in 1980. The organization focuses on creating sustainable futures by investing in companies that address global development challenges, primarily in developing countries. Finnfund provides investment and advisory services to promote economic growth and sustainability across various sectors. Among their notable transactions, Finnfund has invested in Nafoods Group, a Vietnamese food processor, through a $5 million senior loan, highlighting their commitment to the food industry. Additionally, they participated in a $50 million Series C funding round for Twiga Foods, which operates in the agricultural supply chain, further emphasizing their engagement in sectors related to food processing and distribution. Other investments include Valency International and ETG, both of which are involved in agricultural and food supply chains, reinforcing Finnfund's relevance in the food packaging context.


13. Lifeline Ventures


Lifeline Ventures is a Helsinki-based venture capital firm founded in 2009, specializing in early-stage investments in startups across various sectors. The firm is dedicated to providing financial backing and advisory services to resilient founders, helping them grow and scale their businesses. Notably, Lifeline Ventures has participated in significant funding rounds for companies like Sulapac, which raised €15 million in 2019 to scale up its sustainable material production, and €1,064,350 in a seed round in 2017. Additionally, they were involved in a €7.5 million seed round for Origin by Ocean in 2023, which, while not directly related to food packaging, reflects their commitment to innovative and sustainable solutions. Their investment in Sulapac highlights their interest in the food packaging industry, particularly in sustainable alternatives, making them a relevant player in this space.


14. Elanders

  • Website: elanders.com
  • Type: Corporate
  • Headquarters: Gothenburg, Västra Götaland, Sweden
  • Founded year: 1908
  • Headcount: 5001-10000
  • Number of deals in 2024: 2
  • LinkedIn: elanders

Elanders is a corporate investor based in Gothenburg, Västra Götaland, Sweden, with a history dating back to 1908. The company specializes in logistics and printing, offering integrated solutions within supply chain management across various industries, including Automotive, Electronics, and Health Care. In recent years, Elanders has strategically expanded its operations in the packaging sector through several key acquisitions. Notably, they acquired Spreckley, a leading automatic stringing facility in Europe, to strengthen their position in the premium packaging market. Additionally, their acquisition of Schmid Druck, which focuses on advanced packaging and unique print solutions, further illustrates their commitment to enhancing their packaging capabilities. These moves are part of Elanders' broader strategy to diversify and improve their service offerings, particularly in niche packaging products.


15. Nordic Capital

  • Website: nordiccapital.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 10
  • LinkedIn: nordic-capital

Nordic Capital is a private equity firm founded in 1989, based in Stockholm, Sweden. The firm specializes in investments across various sectors, including healthcare and technology, and is known for partnering with management teams to drive growth and operational improvements in its portfolio companies. Nordic Capital has a strong focus on creating long-term value and sustainability in its investments. Notably, the firm has been involved in transactions relevant to the food sector, such as the acquisition of Greenfood Group, a company that operates in the food industry, and Cloetta, a leading confectionery company. These transactions highlight Nordic Capital's engagement in the food sector, which encompasses food packaging as a critical component of the industry.


16. Aboa Venture III Ky


Aboa Venture III Ky is a private equity firm based in Turku, Southwest Finland, founded in 1994. The firm specializes in providing equity financing solutions to small and medium-sized Finnish businesses with revenues between 2-20 million euros. Aboa Venture Management Oy participates in acquisitions and growth investments, focusing on companies seeking capital for expansion and restructuring. Notably, Aboa Venture has been involved in several transactions relevant to the food packaging industry, including investments in WM-Plast, a company that specializes in plastic packaging solutions, and Coreplast Laitila, which is also engaged in the packaging sector. These investments highlight Aboa Venture's engagement with businesses that contribute to the food packaging landscape, showcasing their potential relevance in this area.



Food Packaging Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
AlmiStockholm, Stockholm, Sweden201-50019947
KatapultOslo, Oslo, Norway11-5020178
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
Orkla ASAOslo, Oslo, Norway10001+20171
HuhtamakiEspoo, Uusimaa, Finland10001+19200
BEWI GroupSolna, Stockholm, Sweden1001-500019801
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
Accent EquityStockholm, Stockholm, Sweden11-5019944
Chalmers VenturesSweden11-50201526
Lagercrantz Group ABStockholm, Stockholm, Sweden1001-500020016
FinnfundHelsinki, Uusimaa, Finland51-20019807
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
ElandersGothenburg, Västra Götaland, Sweden5001-1000019082
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Aboa Venture III KyTurku, Southwest Finland, Finland1-1019940


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