Novolex Acquires Vegware

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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.

Metadata
Provider: 
PR NewswirePR Newswire
Retrieved on: 
Monday, August 9, 2021
Information
Tags: 
The Carlyle Group, CEO, Food packaging, Partnership, Solution, Sustainability, Research, Mark (given name), Waste management, Recycling, Tissue paper
Geotags: 
United Kingdom, NORTH AMERICA, SCOTLAND, EDINBURGH, EUROPE, UNITED STATES, NORTH
Organisation: 
NOVOLEX, VEGWARE
Summary
Key Points: 
  • 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 has been committed to quality, performance and design for over 15 years," said Joe Frankel, Managing Director of Vegware.


Novolex Acquires Vegware

HARTSVILLE, S.C., Aug. 9, 2021 /PRNewswire/ -- Novolex®, a leader in packaging choice, innovation and sustainability, has acquired Vegware, a rapidly growing international provider of compostable foodservice packaging headquartered in Edinburgh, U.K. Vegware's teams in both the U.K. and U.S. are expected to join the Novolex family. 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 was founded in Edinburgh in 2006 by Joe Frankel. Headquartered in Scotland, it has operations in the U.K., EU and the United States. The company sources renewable, plant-based materials to manufacture cups, cutlery, tableware and takeout packaging designed to be commercially composted with food waste. Sold in more than 70 countries, Vegware products are known for their quality, performance and design.

"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."

The addition of Vegware products will complement Eco-Products' own product line that is made of renewable materials that can often be recycled and/or composted. This 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, added, "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, a leading alternative asset management group with $260 billion in assets, spanning three business segments and 437 investment vehicles.

About Novolex
Novolex develops and manufactures diverse packaging products for the food packaging, delivery and carryout, food processor and industrial markets that touch nearly every aspect of daily life in multiple industries. The Novolex family of brands provides customers with innovative food and delivery packaging and performance solutions for their business needs today while investing in research and development to engineer more sustainable choices for the future. With more than 10,000 employee families, Novolex operates 57 manufacturing facilities in North America and Europe, including two world-class plastic film recycling centers. To learn more about Novolex, visit www.Novolex.com.

About Vegware
Vegware was founded in Edinburgh in 2006. Headquartered in Scotland, it has operations in the U.K., EU and the United States. Vegware products are made with renewable, plant-based materials designed to be commercially composted with food waste. Sold in over 70 countries, Vegware products are known for their quality, performance and design. Visit www.vegware.com to learn more.

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