HP Inc. announced the acquisition of Choose Packaging, a packaging development company and inventor of the only commercially available zero-plastic paper bottle in the world.
Choose’s patented technology provides an alternative to plastic bottles and can hold a wide variety of liquid products. Its novel, paper-based bottles are made with naturally occurring and non-toxic materials and pave the way for a new standard for bottling solutions globally.
“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,” said Savi Baveja, Chief Strategy & Incubation Officer, HP Inc. “Choose has built a truly differentiated technology and we are excited to welcome this talented team to the HP family.”
HP said it is well positioned to disrupt the $10 billion (€8.87 billion) fibre-based sustainable packaging market. HP’s first step in transforming this industry was the introduction of its 3D printing-enabled Molded Fibre Tooling Solution designed to bring customisable, fibre-based products to market faster and more affordably.
With the integration of Choose into its Personalisation & 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 intends to disrupt this market with fibre-based, 100% plastic-free packaging.
“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,” said James Longcroft, Founder and Managing Director, Choose 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.”
Financial terms of the transaction were not disclosed.
