South Carolina-based Novolex has acquired Edinburgh-based Vegware, a rapidly growing international provider of compostable foodservice packaging that sells to over 70 countries around the world.
Novolex is a portfolio company of The Carlyle Group, the alternative asset management group with $260 billion in assets.
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 Novolex CEO Stan Bikulege.
“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 managing director Joe Frankel and has operations in the UK, EU and the United States. It is based in Melville Street in Edinburgh’s West End.
The company sources renewable, plant-based materials to manufacture cups, cutlery, tableware and takeout packaging designed to be commercially composted with food waste.
Novolex MD Joe Frankel said: “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.”
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.”