MonoSol was acquired by the producer of polyvinyl alcohol (PVA) also known as “poval” fibre, Kuraray, for an undisclosed amount and the deal is subject to approval by regulatory authorities.
The business will be operated as an independent company under Kuraray Holdings USA and all employees will be transferred to the new company.
No further comment
When contacted by FoodProductionDaily.com for more details P. Scott Bening, president and CEO of MonoSol, said the firm were “at this time unable to make any further comments related to the merger announcement other than what was published in the press release.”
In an earlier statement, Bening said: "This merger will allow MonoSol to continue to grow and service its customer base while providing additional R&D resources – capitalizing on the expertise of both groups.
“Utilizing the Kuraray Acetyl Products expertise will allow MonoSol to reach our product development goals faster and more efficiently. We are very excited about this combination and look forward to our future with Kuraray.”
Kuraray said they made the move as it supports its strategy to grow its vinyl acetate chemical chain business.
The company said it will expand its product offering of PVA films, currently for optical-uses including a polarizing film, into a “wider range of industrial applications, thereby enhancing its competitiveness”.
Technology ready to market
Last month, MonoSol told this site they had developed a food packaging technology that dissolves when exposed to water and said it was ready for commercial rollout as soon as individual customers’ needs were satisfied.
The pouch is suitable for a variety of foods including oatmeal, cereals, soups, gravies and sauces, hot chocolate and dry ingredients.
“We believe a market exists for dissolvable pouch packaging to address the macro trends in the food sector such as convenient delivery, portion control, replacing primary package – reducing waste and operational efficiencies for back of the kitchen operations,” explained Matt Scearce, manager of media and communications at MonoSol.
However, MonoSol said a secondary packaging would be needed to prevent contamination of the edible pouches during transportation and storage prior to use.