New partner at Doxa Plastics
Entreprenörinvest has acquired a shareholding in the market-leading stretch film producer Doxa Plastics. This will facilitate a major investment by the company in a new 8,000 square metre production facility at Bredasten in the municipality of Värnamo.
On 11 June 2020, the investment company Entreprenörinvest became a shareholder in the Värnamo company Doxa Plastics. Entreprenörinvest, which is wholly owned by the Kamprad Family Foundation (in turn, the Kamprad Family Foundation was formed on the initiative of the Kamprad family with donations from Ingvar Kamprad, Inter IKEA Group and Ikano), invests in ground-breaking companies located in smaller communities and which offer good growth potential.
‒ Doxa Plastics more than meets the criteria that we apply when assessing companies. The fact that they also demonstrate such incredible innovative capability, combined with a first-rate environmental programme and a unique entrepreneurial spirit, makes them a perfect fit for us. It’s a solution where everyone benefits, said Ulf Annvik, Entreprenörinvest Chief Executive Officer.
Stig Claesson founded Doxa Plastics in 1993. The business concept both then and now is to produce stretch film that is thinner than the alternatives available on the market, and yet still performs equally well. This has led to Doxa Plastics developing its now patented stretch film Doxess and emerging as a market leader in environmentally friendly stretch film. Over the past decade, Doxa Plastics has succeeded in doubling its turnover, from 100 million to 200 million kronor, and with a good return.
‒ Ever since I founded Doxa Plastics, competitiveness and the environment have been firmly in focus. We have now found a partner that also values these two core elements to the same extent, allowing us to move to the next level, said Stig Claesson, founder of Doxa Plastics.
With Entreprenörinvest as a shareholder, Doxa Plastics is well positioned to push ahead with a major investment in a new 8,000 square metre production facility at Bredasten in the municipality of Värnamo. Entreprenörinvest is also a shareholder in the company Kretslopp & Recycling, which covers the entire chain, from collection to the sale and recycling of plastic.
‒ This pivotal move will open up new opportunities for the company and is a reflection of all the hard work put in by Stig and the Claesson family over the years and their tenacity as they have built up the business. We are now taking over the leader jersey with regard to environmentally friendly plastic, paving the way to the future for the whole industry, concluded Sandra-Stina Vesterlund, Doxa Plastics Chief Executive Officer.
The new production facility is scheduled for completion in spring 2021.