Italian supplier Novamont has acquired Australia’s BioBag Group. The acquisition will help strengthen the two producers’ contribution to the global circular economy.
BioBag Group has been the part owner of BioBag World Australia, led by South Australian manufacturer Scott Morton since January 2018. Novamont is a major supplier of the Master-Bi resin BioBags, which are made in Adelaide.
Morton said he is excited about the new acquisition and finding new ways to replace traditional plastics with compostable alternatives.
“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,” said Morton.
“Mater-Bi is 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.”
Novamont CEO Catia Bastiolo said the agreement allows the company 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,” said Bastiolo.
Novamont is based in Novara, Italy and has a portfolio of 1800 patents, 600 employees working in for production sites, as well as two research centres in Italy. It develops and manufactures bio-based and biodegradable bioproducts “through the integration of chemistry, agriculture and the environment”.