Healthcare company BioGaia has signed an agreement to acquire the remaining 50% of TwoPac for SEK30m ($5m).
Earlier the company owned 50% of TwoPac and the remaining shares have been held by TwoPac’s management. The change of ownership is expected to take place on 1 July 2013.
BioGaia president Peter Rothschild said, "The most important aspect of the acquisition is that it will give us unlimited access to TwoPac’s product development capacity and expertise in building customised machinery."
TwoPac manufactures and develops packaging solutions for probiotics. It mainly produces probiotic drops at present, but also manufactures straws on behalf of BioGaia.