Novolex acquires compostable packaging company Vegware
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.
“Vegware is an excellent company and its addition to Novolex is an exciting step to growing our global compostable products footprint,” said Stan Bikulege, chairman and CEO of Novolex.
“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.”
Vegware, which has operations in the EU, the UK and the US, was founded in Edinburgh in 2006 by Joe Frankel. The company sources renewable, plant-based materials to manufacture cups, cutlery, tableware and takeout packaging designed to be commercially composted with food waste. Its products are sold in more than 70 countries.
“Vegware has been committed to quality, performance and design for over 15 years,” said Joe Frankel, managing director of Vegware.
“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.”
Novolex said the partnership will broaden Eco-Products’ presence in Europe and give 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.”
Novolex is a portfolio company of The Carlyle Group, an alternative asset management group with $260bn in assets, spanning three business segments and 437 investment vehicles.
Novolex operates 57 manufacturing facilities in North America and Europe, including two plastic film recycling centers.