The BioBag Group, part owner of BioBag World, has been acquired by Novamont the Italian supplier of the Mater-Bi resin material that comprises the BioBags product.
Managing director and part owner Scott Morton, who took over BioBag World Australia January 2018 said that the acquisition is exciting because Novamont is a world leader in circular economy.
“Novamont is a core partner of the Ellen MacArthur Foundation’s food initiative and a signatory of its New Plastics Economy which is aimed at rethinking packaging systems globally. The company creates world leading solutions to replace traditional plastic with compostable alternatives that enable regeneration and improve soil health.
“Mater-Bi is also an innovative family of bioplastics that uses substances obtained from plants such as non genetically modified corn starch. This means BioBag can make a large range of compostable products here in Australia including retail produce bags, kitchen caddy liners and bin liners help to divert organic waste from landfills so it can be recycled into compost to improve soil health,” Morton said.
Expansion of circular bioeconomy
Novamont’s CEO Catia Bastioli explained, “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 described the acquisition as a win-win. “We have 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!”
Novamont is one of the world-leading groups in the development and manufacturing of bio-based and biodegradable bioproducts through the integration of chemistry, agriculture and the environment. The company has its headquarters in Novara (near Milan), a portfolio of 1,800 patents, 600 people working in four production sites and two research centres in Italy.
BioBag International is a world-leading group of companies working in the development, production and marketing of compostable applications. Based in Norway, BioBag has subsidiaries in Australia, Sweden, Denmark, Ireland, Finland, Poland, Canada and USA.