Packaging manufacturer Novolex has recently acquired Vegware, a rapidly growing international provider of compostable foodservice packaging based in Scotland.
Vegware’s UK and US teams are expected to join Novolex following the acquisition, with the company becoming part of Novolex’s Eco-Products portfolio of brands. The brand is set to remain intact, continuing to sell its products under the Vegware label.
The addition of Vegware products is set to compliment the Eco-Products line, with all products being made from renewable materials that can often be recycled and/or composted. The partnership additionally aims to expand Eco-Products’ presence in Europe, whilst giving Vegware additional access to the North American market.
Founded in Edinburgh in 2006 by Managing Director Joe Frankel, Vegware has operations in the UK, EU and US. The company sources renewable, plant-based materials to manufacture cups, cutlery, tableware, and takeaway packaging designed to be commercially composted with food waste. The brand’s products are currently sold in more than 70 countries.
Commenting on the acquisition, Frankel said: “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.”
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.”
Ian Jacobson, President of Novolex’s Eco-Products business, additionally commented: “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 $260 billion in assets, spanning three business segments and 437 investment vehicles.