Vegware sold to US packaging firm 

US-owned packaging manufacturer, Novolex, has acquired compostable food packaging company Vegware for an undisclosed sum.

Vegware will add to the Eco-Products range

Novolex announced yesterday (9 August) that Vegware’s teams in both the U.K. and U.S. will move under its umbrella.

The Vegware brand will remain intact as part of Novolex’s Eco-Products portfolio of brands and will continue to sell its products under the Vegware label.

It is expected that the addition of Vegware products will “complement” the company’s Eco-Products line and “broaden” its presence in Europe, giving Vegware additional access to the North American market.

Ian Jacobson, president of Novolex’s Eco-Products business, said: “Eco-Products has respected the Vegware brand, products and people for many years. Joining forces with the innovative Vegware team is an exciting next step in our journey.”

‘Exceptional resources’

Headquartered in Scotland, Vegware has operations in the U.K., EU and the United States. The company sources plant-based materials to manufacture cups, cutlery, tableware and takeaway packaging, which is designed to be commercially composted with food waste.

Joe Frankel, managing director of Vegware: “Vegware has been committed to quality, performance and design for over 15 years. Joining Novolex, with its exceptional resources and large footprint, will allow Vegware to expand distribution of quality compostable products and waste management initiatives to our customers across the globe.”

Portfolio

Novolex is a portfolio company of The Carlyle Group, an alternative asset management group with $260 billion in assets.

On its website, it says it has 10,000 employees globally and “develops and manufactures diverse packaging products for the foodservice, delivery and carryout, food processor and industrial markets”.

One of its brands, Waddington Europe, was awarded a 4-star rating at the Zero Waste Awards earlier this year (see letsrecycle.com story).

Momentum

Stan Bikulege, chairman and CEO of Novolex added: “Vegware is an excellent company and its addition to Novolex is an exciting step to growing our global compostable products footprint. We are pleased to welcome the Vegware team to the Novolex family and maintain our momentum of supporting brands that meet society’s expectations for sustainable products.”

 

Comments

Leave a Reply

The Blog Box

Other Publications from
The Environment Media Group

Back to top