Israel-based TIPA Compostable Packaging has bought Bio4Pack in a deal that will give TIPA a foothold in the Netherlands and Germany, according to a recent report from Packaging News.
Terms of the deal were not disclosed.
“There is a great value and strength in cooperating with other players in the sustainable packaging solutions industry,” said Daphna Nissenbaum, CEO and co-founder of TIPA. “The acquisition of Bio4Pack enables us to expand our existing expertise and portfolio and continue to grow TIPA’s custom packaging solutions.”
Patrick Gerritsen, chief executive of Bio4Pack based in Germany, says the deal will allow the companies to significantly reduce plastic pollution.
TIPA says it will now be able to provide paper packaging from agricultural waste, trays, and nets, according to the report.