Six-figure Investment Propels Eco Packaging into the Mainstream

Vegware, the UK’s only packaging firm to specialise in eco friendly products, has now closed on a significant investment deal with Bradenham Partners LLP. The new investors exchanged a six-figure sum for a 20% stake in Vegware Ltd, which will use the investment to fund growth and product development.

Joe Frankel, the eco entrepreneur who founded the Edinburgh-based firm in 2006, said: “This exciting development allows Vegware to come into the mainstream where it is most needed. We know that we are very competitive in the eco packaging marketplace. That's all well and good, but we want to be competitive with standard oil-based plastic packaging. That's how we are going to make a real environmental impact.”

The investors have strong links throughout the contract catering and retail sectors, which will put Vegware in an excellent position to generate new business. Frankel stated: “We expect the new connections and contracts to bring in substantial additional turnover right from the outset, and we have plans for rapid expansion.”

He added: “We see this development as a key staging post in making eco packaging mainstream. The message is simple: plastic - your time is up!”

Keith Wilson of Bradenham Partners said: “We are delighted to support Vegware through this very exciting phase of its continued development. Vegware is a fantastic business providing an excellent solution to the ever-increasing problem of oil-based packaging products. Their success in producing a green, price-competitive range of products ensures they have a real winner for the food service industry at no extra cost to the customer.”

The green business was set up in order to offer a sustainable alternative to the plastic disposables used and thrown away by the catering sector. All Vegware products are made from annually-renewable or recycled materials, and all are biodegradable or compostable. Vegware also works together with the organics recycling industry, offering a composting collection service. Food and packaging waste can be thrown into the same bin, then collected and composted with minimal cost impact to the client. Clients ranging from NHS units through to Disney have already started using this service to divert their catering waste away from landfill, turning it into soil instead.

Vegware has already taken preparatory steps towards expansion, including the recent move to a new London warehouse run by the Global Infusion Group, and a substantially increased stock-holding. This move means that now Vegware products are distributed alongside high street brands.

Vegware was the first company in the world to produce a fully compostable plant-based alternative to the plastic sip-through coffee cup lid. This investment means that plans for a number of other new and innovative products can now come to fruition.

Vegware has had a global outlook from the outset, with the stated goal of being the trusted source of eco friendly packaging. An exclusive distribution agreement was signed at the end of 2008 with Connecticut-based partners in order to bring Vegware products to the North American market under the banner of Vegware US. Irish distribution is already in place, and plans for expansion elsewhere in Europe and Australasia are afoot.