The acquisition will allow LEEF to quickly open new sales channels in retail and e-commerce, while also developing a second strong brand. Wisefood is focusing on development of new product lines to further its reach in the sustainable packaging market, especially in Europe.
Dec 24, 2024
Leef Blattwerk GmbH, a leading German company reputed for producing eco-friendly tableware and takeaway packaging products through palm leaves, has acquired Wisefood, a sustainable packaging e-commerce startup and manufacturer of edible tableware.
As per local media reports, the financial details of the transaction have not been disclosed. LEEF Holding Managing Director Claudio Fritz-Vietta reported that the acquisition would allow the company to quickly open new sales channels in retail and e-commerce with LEEF while also developing a second strong brand.
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Since its inception two years ago, Wisefood, specializing in edible drinking straws and cups alongside a range of sustainable disposable tableware products, has achieved six-figure profits and a seven-figure annual turnover. Its valuation surpassed EUR 5 million, following a successful financing round in 2021. The company serves a diverse clientele, including hotels, restaurants and cafés, along with catering and retail giants.
Wisefood has ambitious plans for expansion across Europe. The company is also focusing on the development of new product lines to further its reach in the sustainable packaging market.
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LEEF uses carbon-free and compostable palm leaves to develop innovative solutions for packaging. The company claims that its products are ethically produced, fairly traded, and fully circular.
