©Beijing8
Sweden’s Frill Holding has completed the acquisition of B8 Sverige, a local producer of dumplings for the Nordic markets that is more commonly known as Beijing8.
Beijing8 markets and sells dumplings in grocery stores, restaurants and via ecommerce in Sweden, Finland, Norway and Estonia. In addition to its main dumplings offering, Beijing8 also produces sauces, beverages and cooking utilities.
In 2020, Beijing8 reported sales of approximately SEK 32 million ($3.9 million) and produced and sold over 6 million dumplings, which it says makes it one of the largest brands of dumplings in Europe.
The total share transaction marks another step by Frill towards its growth strategy to become a leading company in functional foods in the Nordics.
“With the acquisition of Beijing8, Frill continues its rapid expansion. The company fits well into our portfolio. We expect to be able to quickly scale up the distribution and sales of Beijing8’s products throughout the Nordic region,” said Peter Blom, CEO of Frill.
“Beijing8’s attractive and in-demand products in combination with a presence in several Nordic countries open up new opportunities and synergies, which can be utilised for our other brands,” he added.
With the aim to build an attractive portfolio of functional food brands, the acquisition sees Beijing8 join Frill’s current brand collection that includes iQ Fuel, Homie Life in Balance, Bezzt of Nature, Frill and Bacoccoli.
Magnus Andersson, CEO of Beijing8, added: “In a short time, Frill has built up an impressive company with a strong market presence and an attractive product portfolio. Taking the step into this exciting company is exactly what Beijing8 needs to be able to take the next step in the development of our brand and to be able to better develop the full potential of our products.
“Frill’s organisation gives us access to resources and a number of important functions and competencies to achieve this, and I look forward to being part of the Frill team.”
© FoodBev Media Ltd 2024