Lagercrantz Group has acquired all shares in Sweden-based Asept International, which offers dispensing systems that are used for liquidized foods primarily.
Global food product manufacturers, restaurant chains and other sectors that need customized packaging and dispensing solutions use Asept's products as they are said to cut down the need for preservatives and reduce customer costs.
Lagercrantz Group president and CEO Jorgen Wigh said the acquisition of Asept fits in well with the company's ambitions in the Niche Products division.
"Asept has displayed an innovative, stable and strong performance over a long period of time. As new owner, our intention is to continue developing the business based on the company's strong existing platform," Wigh added.
According to Lagercrantz, the acquisition of Asept, which generates total annual sales of about SEK65m, is expected to generate a small positive addition to the group's earnings per share on an annual basis.