Digital print giant HP has ventured directly into the packaging market with the acquisition of Scottish paper bottle manufacturer Choose Packaging, for an undisclosed fee.
Mariona Company, head of molded fiber advanced tooling solution, HP, confirmed to Packaging News this was the first time the company had acquired a packaging company.
Choose Packaging is an Edinburgh-based development company which claims to provide the only commercially available zero-plastic paper bottle in the world.
It works with numerous global companies including Accolade Wines, Henkel, Malibu and more.
With the integration of Choose into its Personalization & 3D Printing business, HP said it will focus on scaling its technology and customer footprint to expand the addressable market.
There are more than 150 million tons of single-use plastics produced each year and HP said it intends to disrupt this market with fiber-based, 100% plastic-free packaging.
HP added it was `well positioned` to disrupt the $10bn fiber-based sustainable packaging market.
It launched the 3D printing-enabled Molded Fiber Tooling Solution a year ago – designed to bring customizable, fiber-based products to market faster and more affordably.
Savi Baveja, chief strategy & incubation officer, HP, said: [This acquisition is a great example of how we continue to strengthen our capabilities in attractive verticals like sustainable packaging while also driving progress against HP`s broader sustainability goals. Choose has built a truly differentiated technology and we are excited to welcome this talented team to the HP family."
James Longcroft, founder and managing director, Choose Packaging, added: [As a plastic-free packaging development company, we`ve successfully created technology that can provide a viable alternative to plastic bottles to help eliminate single-use PET packaging. HP`s world-class capabilities and expertise can help scale our impact at a global level. We are thrilled to join the HP team and couldn`t have chosen a better match in terms of our shared goals for business, technology, sustainability, and a values-oriented culture."
Sandy Mayo, chief marketing officer, Accolade Wines, said: [At Accolade Wines, we put innovation and sustainability at the heart of everything we do in our mission to be the world`s most innovative wine company. We are excited to see Choose join a recognized leader like HP who puts these topics at the top of its agenda. Consumers are demanding more sustainable alternatives and we look forward to continuing our work together to be the first wine company globally to deliver 100% biodegradable packaging across some of our leading brands including Banrock Station and Hardys."