Tipa Compostable Packaging is acquiring Bio4Pack, a compostable packaging company in Europe. The financial terms of the transaction were not disclosed, although market estimates suggest Tipa paid $8 million for the German firm.
Tipa received $70 million in Series C fundraising in January 2022, led by Millennium Food-Tech and Meitav Dash. Daphna Nissenbaum and Tal Neuman launched the Israeli cleantech startup in 2010 and have funded a total of $130 million. Investors include Hong Kong business billionaire Li Ka-Shing’s Blue Horizon Ventures, the Hearst family, and GreenSoil Investments.
Tipa designs and manufactures flexible compostable packaging that decomposes in a matter of months, giving a complete circular solution for flexible plastic waste.
Tipa claims that its packaging resembles the high-end features of conventional plastic packaging, such as strength, machinability, clarity, and shelf life, while producing no waste.Collaboration with other participants in the sustainable packaging solutions market has significant value and strength.
With the acquisition of Bio4Pack, we will be able to expand our existing expertise and portfolio while also expanding TIPA’s custom packaging solutions, stated Tipa CEO Daphna Nissenbaum.
It is an honor to be acquired by Tipa, said Patrick Gerritsen, CEO of Bio4Pack. This company is well-known throughout Europe – and around the world – for their innovative packaging.
