12.03.14
Cardia Bioplastics has signed an agreement to merge its business with Stellar Films Group, a privately held maker of cast films for personal care, hygiene and medical products. The merger of the two companies will create a leader in the sustainable packaging market.
Under the terms of the agreement, Cardia Bioplastics will acquire all of the shares and units of Stellar Films, which is headquartered in Australia. Following the merger, Cardia shareholders will own 42% of the merged group while Stellar Films will own 58%.
Cardia Bioplastics and Stellar Films originally partnered to produce environmentally friendly, high quality and cost competitive Biohybrid film products tailored for personal care and hygiene prdoucts. The film is produced using Stellar's proprietary cast film process and exhibits a high performance property profile. It is differentiated through its unique, soft touch and warm feel in diapers and adult incontinence items.
The cooperation between the two companies, which has been ongoing for three years, has drawn out the strategic fit of the two businesses. Major benefits of the merger include scale and geographic footprint, market access and reach, production and operational savings, complementary intellectual property positions, resources to deliver business strategy and high quality management teams.
Under the terms of the agreement, Cardia Bioplastics will acquire all of the shares and units of Stellar Films, which is headquartered in Australia. Following the merger, Cardia shareholders will own 42% of the merged group while Stellar Films will own 58%.
Cardia Bioplastics and Stellar Films originally partnered to produce environmentally friendly, high quality and cost competitive Biohybrid film products tailored for personal care and hygiene prdoucts. The film is produced using Stellar's proprietary cast film process and exhibits a high performance property profile. It is differentiated through its unique, soft touch and warm feel in diapers and adult incontinence items.
The cooperation between the two companies, which has been ongoing for three years, has drawn out the strategic fit of the two businesses. Major benefits of the merger include scale and geographic footprint, market access and reach, production and operational savings, complementary intellectual property positions, resources to deliver business strategy and high quality management teams.