Solegear buys Lindar's bioplastic division

Latest US acquisition accelerates Solegear's bioplastic packaging market share growth

Solegear's bioplastic packaging solutions

BS B2B Bureau Vancouver, Canada

Last Updated : Jan 04 2017 | 4:15 PM IST

Solegear Bioplastic Technologies Inc, the Canadian firm that makes bioplastics from renewable plant-based sources, has acquired Lindar Corporation’s bioplastic division for CAD$ 845,000. The purchased assets generated over CAD$1.3 million in revenue in 2015.

Located in Minnesota (USA), Lindar has been producing thermoformed packaging since 1993 and is a recognised leader in packaging innovations, including single-serve and tamper evident food packaging.

“The food industry has been most significantly impacted by consumer and regulatory concerns about safety. Lindar was one of the early innovators to embrace the important role packaging design can play in ensuring food safety. By combining Lindar’s thermoformed packaging know-how with Solegear’s commitment to engineering plant-based materials with no BPAs or phthalates, this acquisition positions Solegear with the people, infrastructure, products and pricing to further scale our business at a faster rate,” said Paul Antoniadis, CEO of Solegear.

Tom Haglin, president of Lindar, said, “As Lindar’s bioplastic division becomes part of the Solegear family, Lindar will be able to capitalise on this business association by introducing new and expanded products with greater capabilities.”

Solegear & Lindar have also agreed to negotiate and enter into an outsourced operating agreement under which Lindar will provide certain management, operational, financing, marketing, sales, logistics, warehousing and other support services to the company. The Lindar team will continue to market and sell bioplastic packaging, making the transition seamless for Lindar’s existing bioplastic customers, which includes a wide range of US retailers and food producers.