Novamont, an Italy-based producer of biochemicals and compostable bioplastics, has acquired BioBag Group, a Norway-based supplier of waste collection and packaging solutions for organics recycling with distribution operations in North America. The acquisition enables the two companies to “offer a more complete solution set to the market and create long-lasting alliances with key stakeholders such as large retailers and communities,” notes the press release announcing the acquisition. Novamont is mainly focused upstream and has developed the Mater-Bi supply chain that includes agricultural raw materials, bio monomers, bioplastics and low impact formulations. It has brought its materials to the market through applications that require biodegradability in composting facilities and soil. BioBag is focused downstream, and has pioneered development and distribution of a wide range of compostable applications and specializes in a series of support services for these applications. The two companies have been collaborating for many years.
“A strong cultural compatibility developed over two decades of partnership, which has led to a harmonious vision and shared values, as well as the integration of teams around common projects aimed at creating a circular bioeconomy model centered on soil health and the regeneration of local areas,” adds the press release. “Novamont has expanded considerably in the past decade, in particular through internal growth, by acquiring and regenerating obsolete industrial sites. This transaction will allow Novamont to further expand its compostable bioplastics business into Northern/Eastern Europe, North America and Australia. BioBag will continue to operate as an independent organization, with the same leadership team who has achieved excellent results over the past few years.”