Compostable bioplastics supplier Novamont boosts European presence with BioBag acquisition
BioBag is a Norwegian supplier of waste collection and packaging.
In a move designed to expand its distribution area, Italian compostable bioplastics supplier Novamont has acquired BioBag Group, a Norway-based supplier of low-impact solutions for waste collection and packaging.
The financial terms of the deal have not been disclosed.
Both companies have worked together for more than two decades, and Novamont expects the acquisition to increase its geographic reach to areas where it is less present.
BioBag has developed a growing ecommerce platform, which is an important market channel for their existing applications and for the expanded product range that will be derived from Novamont’s innovations and upstream integration.
“This agreement allows Novamont to expand its model of circular bioeconomy,” Novamont CEO Catia Bastioli said in a Jan. 12 statement. “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.”
Headquartered in Novara, near Milan, Novamont has commercial offices in Germany, France, Spain, and the U.S., and operates through its own distributors in 40 countries.