- HP Inc. (NYSE: HPQ) recently announced the acquisition of Choose Packaging. These are the details.
HP Inc. (NYSE: HPQ) recently announced the acquisition of Choose Packaging — which is a packaging development company and inventor of the only commercially available zero-plastic paper bottle in the world.
Choose’s patented technology offers an alternative to plastic bottles and can hold a wide variety of liquid products. And 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.
HP is well-positioned to disrupt the $10 billion fiber-based sustainable packaging market. And the first step in transforming this industry was the introduction of its 3D printing-enabled Molded Fiber Tooling Solution designed to bring customizable, fiber-based products to market faster and more affordably.
Through the integration of Choose into its Personalization & 3D Printing business, HP will focus on scaling its technology and customer footprint to expand the addressable market. And there are over 150 million tons of single-use plastics produced each year and HP intends to disrupt this market with fiber-based, 100% plastic-free packaging.
Choose is working with a number of large global companies including Accolade Wines, one of the biggest wine companies in the world with over 50 brands including Hardys, Banrock Station, and Grant Burge available in more than 130 countries; Henkel, one of the world’s largest consumer and industrial goods companies; Malibu Rum, one of the strategic international brands in Pernod Ricard’s global portfolio; and many more.
The financial terms of the transaction were not disclosed.
KEY QUOTES:
“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. Choose has built a truly differentiated technology and we are excited to welcome this talented team to the HP family.”
— Savi Baveja, Chief Strategy & Incubation Officer, HP Inc.
“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. 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.”
— James Longcroft, founder and managing director, Choose Packaging
“At Accolade Wines, we put innovation and sustainability at the heart of everything we do in our mission to be the world’s most innovative wine company. We are excited to see Choose join a recognized leader like HP who puts these topics at the top of its agenda. Consumers are demanding more sustainable alternatives and we look forward to continuing our work together to be the first wine company globally to deliver 100% biodegradable packaging across some of our leading brands including Banrock Station and Hardys. Henkel drives active progress towards a circular economy by creating smarter packaging for the benefit of people and the planet,” said Berthold Schreck, R&D Vice President Laundry Care, Henkel. “Choose and HP bring together a game-changing combination of packaging technologies and we are excited to collaborate to develop new sustainable packaging solutions and reduce plastics in our consumer goods products.”
— Sandy Mayo, Chief Marketing Officer, Accolade Wines
