South Wales-based Transcend Packaging Ltd, a manufacturer of sustainable paper-straws, has acquired Leeds-based BioStraw Ltd’s assets.
BioStraw will transfer its production to Transcend Packaging and refocus efforts on licensing its intellectual property and helping bring new products to market.
As part of the acquisition, the senior management team from BioStraw will join the rapidly expanding Transcend Packaging team which has delivered high levels of growth despite only opening its first production site near Caerphilly in South Wales in 2018.
Lorenzo Angelucci, CEO of Transcend Packaging, said: “We are pleased to welcome the leadership group from BioStraw into Transcend Packaging’s team. The BioStraw team has developed a reputation for innovation and product quality and they will help strengthen our strong production and marketing capabilities as we scale into new markets and international production in the months ahead.”
Despite being in operation for little over a year, Transcend has already won a number of major contracts with big high street brands, supplying eco-friendly paper straws to the likes of McDonald’s and KFC as they move to meet the UK government’s 2020 deadline for the removal of all plastic straws.
Former BioStraw managing director Mark Mitchell said: “We are honoured to be joining the Transcend Packaging team. Transcend has emerged as the UK market leader for paper-straw production with a strong portfolio of major multi-national clients. We look forward to helping Transcend bring new innovations to market while helping expand to new markets across Europe and beyond.”