Novamont acquires BioBag Group
Italian bioplastics and biochemicals company Novamont has announced its acquisition of BioBag Group, a Norwegian waste collection and packaging supplier.
Through this acquisition, the two companies are aiming to form alliances with key stakeholders such as large retailers and communities. This announcement paves the way for the companies’ projects to enhance separate organic waste collection and composting systems in North America, Scandinavia, Eastern Europe and Australia.
Novamont’s stated reasons for acquiring BioBag Group are threefold: shared values surrounding the importance of making the bioeconomy circular; a complementary value chain; and more opportunity for product development and geographical expansion.
BioBag will continue to operate as an independent organisation with the same leadership team.
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.”
BioBag’s CEO Kjell Ivar Bache commented: “I’ve 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!”