Global circular economy leader Novamont acquires BioBag
BioBag World Australia’s part owner, the BioBag Group, has been acquired by Novamont – the Italian supplier of the Mater-Bi resin BioBags are made from in Adelaide.
This means BioBag World Australia is still Australian and remains a joint venture between the Australian manufacturer and BioBag International. All BioBag products made in Adelaide are Australian owned.
Now BioBag World Australia is even closer to the world’s leading research, development and innovation in plastic alternatives. Novamont has developed 5 world-first proprietary technologies and around 1,800 patents and patent applications.
CEO Catia Bastioli was named “European Inventor of the Year” in 2007. The company was one of the original inventors of compostable films. They also invented Lavazza’s first compostable coffee capsule and Walt Disney’s compostable Micky Mouse watch.
South Australian manufacturer Scott Morton took over BioBag World Australia as managing director and part owner in January 2018.
Mr Morton says the new 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.
“Novamont creates world leading solutions to replace traditional plastic with compostable alternatives that enable regeneration and improve soil health.
“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,” Mr Morton said.
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 is very pleased with the new owners and sees 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.