US-based non-wood agricultural pulp and sustainable packaging company Genera Energy has acquired sustainable moulded fibre packaging manufacturer MxG Fiber.
The acquisition is part of Genera’s overall growth strategy. The integration of MxG’s knowledge and assets will support Genera’s efforts to deliver sustainable fibre packaging to the US market.
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Founded in 2010, MxG manufactures reliable, high-quality, cost-effective, safe, and fully traceable packaging.
The company’s management team developed the first and largest commercial-scale miscanthus crop operation in North America.
Over the decade, the team developed three manufacturing facilities in the Midwest and brought several agricultural fibre products including the first moulded fibre products produced from miscanthus.
Genera CEO Kelly Tiller said: “Our acquisition of MxG Fiber accelerates Genera’s pursuit of innovative ways to decarbonise our economy using regenerative, sustainable agriculture.
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By GlobalData“Matt’s passion for sustainability, combined with his deep expertise in perennial biomass crop production, product development, and manufacturing, really enhances the Genera team.”
The financial terms of the transaction have not been disclosed.
As agreed, MxG CEO Matt Griswold joins the Genera team as vice-president and will focus on moulded fibre product and market development.
Griswold said: “I am excited to continue the MxG mission of expanding the use of perennial crops and replacing single-use plastics under the Genera name.”
Headquartered in Vonore, Tennessee, Genera supplies customers with domestically sourced and manufactured non-wood pulp and moulded fibre products made from locally grown fibre crops and agricultural residue.
