A consortium of West Swedish investors via PP Intressenter AB (PPI) has entered as a new owner of PulPac. In connection with the ownership change, new capital is invested, enabling a powerful effort to industrialize the technology.
PulPac was launched from an intrapreneur project within WPP plc, a worldwide group with approximately 200,000 employees, which until recently owned 100% of PulPac AB. Since WPP’s business is communication and not industrial development of plastic-free products, and since PPI showed interest in PulPac’s technology and business opportunities, WPP and PPI came to an agreement in the beginning of September where PPI now owns approximately 38% of PulPac and where WPP reduced its ownership to approximately 42% after at the same time selling about 20% to PulPac staff.
PPI is owned by a group of business angels from the western of Sweden. Among PPI’s owners are Johan Möller, one of the founders of the bank Collector, Lennart Grebelius, founder and owner of Sätila Holding AB, Mats Franzén and Pål Junhamn, founder of Zetup AB, as well as Björn Engström, Forsman & Bodenfors.