THE WHAT? Biochemicals company Novamont has announced the acquisition of waste collection and packaging company BioBag group, with the deal said to expand its presence worldwide.
THE DETAILS As part of the acquisition Novamont will utilize BioBag’s specialised independent distribution in areas where the buyer is ‘less present.’
Focusing on North America, the Scandinavian countries, Eastern Europe and Australia, the companies plan to build more demonstrators – innovative projects that enhance separate organic waste collection and composting systems,
Having worked together as partners over the course of two decades, Novamont stated that the acquisition was fitting due to a strong cultural compatibility, a highly compatible value chain, and strengthened service capabilities for its partners and customers.
THE WHY? Looking to increase its focus on a circular bioeconomy, the acquisition is said to allow the two companies to offer a more ‘complete solution set to the market in a bid to create long-lasting alliances with key stakeholders such as large retailers and communities.’
Novamont’s 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.”