BioBag International (“BioBag”) is one of the pioneers and leaders in the provision of certified compostable, biodegradable and bio-based plastic applications.
Headquartered in Norway, BioBag offers a comprehensive and extensive product range through its production facilities in Estonia and sales offices in the Nordics, Europe, North America and Australia.
After several years of strong growth, the shareholders wanted to explore a sale of the company to an industrial player and appointed Bryan, Garnier & Co as financial advisor.
Novamont recognized the strategic value of BioBag’s brand, sales capabilities and market knowledge.
With this acquisition, Novamont will expand its presence in the bioplastics value chain to include the development and distribution of a wide range of compostable applications.
BioBag International is a world-leading group of companies working in the development, production and marketing of certified compostable and biodegradable applications. BioBag’s product range is the most comprehensive and extensive in the market. The company’s main goals combine concentrating on the quality of existing products and the innovation of new products and concepts. The group is among the leading manufacturers of environmentally friendly packaging in Northern Europe. In addition to biodegradable and compostable applications, the group brings to market products based on post-consumer recycled (PCR) material under the GreenPolly brand. BioBag has designed a targeted approach of partnering with synergistically aligned companies across the globe to reach thousands of customers worldwide. The main strategy behind the firm’s partner concept is “Think Globally – Act Locally” and its mission is to solve waste challenges through sustainable solutions. With a turnover of EUR 41m and 135 employees, BioBag is based out of Askim, Norway, has a major production site in Estonia, subsidiaries in Sweden, Denmark, Ireland, Finland, Poland, Australia, Canada, USA, and representatives in many countries.
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 main fields of application of the company’s bioproducts are packaging, separate organic waste collection, retail purchasing, disposable tableware, farming, lubricants, cosmetics, hygiene and pharmaceuticals. Novamont 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, and a global turnover of EUR 270m (2019). The group has commercial offices in Germany, France, Spain and the United States and operates through its own distributors in 40 countries. Research & Development accounts for 5% of its revenues and 20% of its workforce. Materials that can fully biodegrade in soil and water have been developed for applications that have a high risk of dispersion in the environment.
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acted as Sole Financial Advisor to BioBag and its shareholders. The team worked with the shareholders and management to prepare and run a focused yet competitive process aimed at renowned players within the bioplastics industry.
Bryan, Garnier & Co assisted in preparing sales documentation, conducting buyer reach-out, negotiation and coordinating due diligence processes.
This transaction is a further demonstration of Bryan, Garnier & Co’s expertise and track record in cleantech and companies promoting sustainability. Other notable transactions include advising Recommerce on its EUR 50m Series C funding round and asgoodasnew on its EUR 18m Series C private placement. These latest transactions confirm Bryan, Garnier & Co’s strong expertise in the field of sustainability and impact-driven business verticals, which are key areas of focus for the bank.