Novamont expands international presence with BioBag acquisition
THE WHAT? Biochemicals firm Novamont has introduced the acquisition of waste assortment and packaging firm BioBag group, with the deal mentioned to increase its presence worldwide.
THE DETAILS As a part of the acquisition Novamont will make the most of BioBag’s specialised impartial distribution in areas the place the customer is ‘much less current.’
Specializing in North America, the Scandinavian international locations, Japanese Europe and Australia, the businesses plan to construct extra demonstrators – modern initiatives that improve separate natural waste assortment and composting programs,
Having labored collectively as companions over the course of twenty years, Novamont said that the acquisition was becoming on account of a robust cultural compatibility, a extremely suitable worth chain, and strengthened service capabilities for its companions and clients.
THE WHY? Trying to enhance its concentrate on a round bioeconomy, the acquisition is claimed to permit the 2 firms to supply a extra ‘full answer set to the market in a bid to create long-lasting alliances with key stakeholders corresponding to giant retailers and communities.’
Novamont’s CEO Catia Bastioli mentioned: “This settlement permits Novamont to increase its mannequin of round bioeconomy. By becoming a member of our greatest expertise and energies and absolutely integrating our provide chains we will higher serve our companions upstream and downstream whereas additional accelerating round options for various market sectors and for communities pursuing our purpose of manufacturing extra with much less.”