The acquisition will enable Novamont to benefit from BioBag’s highly-specialised independent distribution in areas where the consumer presence is less
Italian biochemicals and compostable bioplastics provider Novamont has acquired Norway-based BioBag Group for an undisclosed sum.
Based in Askim, BioBag is a supplier of low-impact solutions for waste collection and packaging.
BioBag International is a group of companies engaged in the development, production, and marketing of certified compostable and biodegradable products.
The company is a manufacturer of sustainable packaging in Northern Europe. It also offers post-consumer recycled (PCR) material under the GreenPolly brand.
With a production site in Estonia, BioBag has subsidiaries in Sweden, Denmark, Ireland, Finland, Poland, Australia, Canada, the US, and representatives in multiple countries.
The transaction will enable Novamont to benefit from BioBag’s highly-specialised independent distribution in areas where the consumer presence is less.
BioBag CEO Kjell Ivar Bache said: “We have been close partners with Novamont for decades and for BioBag this is like coming home. With Novamont, BioBag becomes part of a world-leading bioplastics and biochemicals company. This will enable further international growth together. We are truly excited!.”
Novamont, which is mainly focused on upstream, has developed the Mater-Bi supply chain that ranges from agricultural raw materials, bio monomers, bioplastics and low impact formulations.
With a focus on downstream, BioBag is involved in the development and distribution of a range of compostable applications starting from the Scandinavian countries and specialises in a series of support services for these applications.
The combined company can offer a more complete solution set to the market, in addition to creating long-lasting alliances with major stakeholders such as large retailers and communities.
The combined company aims to develop more demonstrators, the projects that boost separate organic waste collection and composting systems, in North America, the Scandinavian countries, Eastern Europe and Australia.
Novamont CEO Catia Bastioli said: “This agreement allows Novamont to expand its model of circular bioeconomy.
“By joining our best skills and energies and fully integrating our supply chains we can better serve our partners upstream and downstream while further accelerating circular solutions for different market sectors and for communities pursuing our goal of producing more with less.”