URBANA, OHIO — Bundy Baking Solutions has announced that its American Pan brand is expanding in the European market through the acquisition of Runex, a provider of bakeware and coating services based in Finspang, Sweden. The acquisition includes Runex’s production, sales and service operations in Sweden, Norway and the United Kingdom.
Financial terms of the transaction were not disclosed.
“The Runex business and team is a great addition to our European operations,” said Gilbert Bundy, chief executive officer of Bundy Baking Solutions. “Not only do our two family-owned companies have similar values, but we also both have a passion for the baking industry and a reputation of providing exceptional service.”
Pär Adelman, CEO of Runex, said the company is excited to be joining the American Pan and Bundy organizations.
“We have always been proud of our focus on serving bakers, and the American Pan team shares that same dedication, plus a strong history of innovation,” Mr. Adelman said.
American Pan currently has locations throughout Europe in Skelmersdale, UK; Irlam, UK; Barcelona, Spain; and Alexandria, Romania. Bundy Baking Solutions said the Runex coating operation formerly in Luton, England, has been transferred to the American Pan site in Skelmersdale and will continue to provide refurbishment of Runex brand coatings. Runex locations in Sweden and Norway will continue normal operations in their current facilities, the company said.