Stora Enso has entered into an equity transfer agreement to increase its ownership stake from 51% to 90% in its Chinese subsidiary Stora Enso Inpac Packaging Co. Ltd. The transaction is based on the terms of an option agreement dated October 2010. The cash consideration is approximately EUR 46 million. The transaction is subject to regulatory approval by Chinese authorities and is expected to be finalised during the first quarter of 2016. The transaction gives Stora Enso a better opportunity to develop the Inpac Packaging business further and to execute the strategy in the region. The transaction will have no impact on group’s sales or operating profit.
Please be advised that KODIAKOOLER® will generally increase prices on all products effective January 31st, 2021.
This decision did not come lightly as many factors contributed to the necessary change including: Increase costs of our raw materials; Increases in freight from our shippers and logistics; Increase cost and demand brought on by COVID-19; Increase costs of labor.
Please be assured that KODIAKOOLER has made every effort to keep this increase to a minimum and will continue to monitor current situations that could affect future price structures.