Georgia-Pacific reinvested approximately $2 billion back into its business and operations in 2023. These capital improvement projects include launching and completing new facilities and enhancing existing operations. Each investment helps Georgia-Pacific better serve customers, and increase productivity and efficiency, while also creating greater economic opportunities for each facility's local economy. Georgia-Pacific made several investments large and small across its businesses. The projects listed below are large initiatives valued at approximately $100 million and up. For an overview of the projects, go to: https://www.youtube.com/watch?v=ATZglG3C5m4
Novolex®, a leader in packaging choice, innovation and sustainability, has acquired Vegware, a rapidly growing international provider of compostable foodservice packaging headquartered in Edinburgh, U.K. Vegware’s teams in both the U.K. and U.S. are expected to join the Novolex family. The Vegware brand will remain intact as part of Novolex’s Eco-Products portfolio of brands and will continue to sell its products under the Vegware label.
“Vegware is an excellent company and its addition to Novolex is an exciting step to growing our global compostable products footprint,” said Stan Bikulege, Chairman and CEO of Novolex. “We are pleased to welcome the Vegware team to the Novolex family and maintain our momentum of supporting brands that meet society’s expectations for sustainable products.”
Vegware was founded in Edinburgh in 2006 by Joe Frankel. Headquartered in Scotland, it has operations in the U.K., EU and the United States. The company sources renewable, plant-based materials to manufacture cups, cutlery, tableware and takeout packaging designed to be commercially composted with food waste. Sold in more than 70 countries, Vegware products are known for their quality, performance and design.
“Vegware has been committed to quality, performance and design for over 15 years,” said Joe Frankel, Managing Director of Vegware. “Joining Novolex, with its exceptional resources and large footprint, will allow Vegware to expand distribution of quality compostable products and waste management initiatives to our customers across the globe.”
The addition of Vegware products will complement Eco-Products’ own product line that is made of renewable materials that can often be recycled and/or composted. This partnership will broaden Eco-Products’ presence in Europe and give Vegware additional access to the North American market.
Ian Jacobson, President of Novolex’s Eco-Products business, added, “Eco-Products has respected the Vegware brand, products and people for many years. Joining forces with the innovative Vegware team is an exciting next step in our journey.”
Novolex is a portfolio company of The Carlyle Group, a leading alternative asset management group with $260 billion in assets, spanning three business segments and 437 investment vehicles.