Generation Food Rural Partners (GFRP), a Rural Business Investment Company-licensed investment fund, has announced the acquisition of DisSolves, a material sciences company based in Pittsburgh, Pennsylvania, US.
The financial terms of the transaction have not been disclosed.
DisSolves’ patented technology leverages biodegradable and edible components that are claimed to be Generally Recognized As Safe (GRAS) by the US Food and Drug Administration (FDA) to create films and packaging materials that dissolve in various liquids such as water, milk, and juice, without compromising the taste of these liquids.
These films and materials are said to be suitable for various applications, including nutraceuticals, encapsulants, and different types of pods.
GFRP managing director Frank Klemens said: “The GFRP team is thrilled to welcome DisSolves into our family of innovative companies. DisSolves is bridging technology and food packaging to create solutions that are critical to reducing the impact of legacy packaging systems across many segments of the food supply chain.
“We are excited to work with Jared, to advance his innovations in edible films and bring his unique vision to the market.”
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Following the acquisition, DisSolves’ founder, Jared Raszewski, will continue his role as the company’s chief product officer, focusing on the development and commercialisation of the aforementioned materials.
Raszewskisaid: “I am excited to start working with GFRP because thanks to the fund’s resources and support, we’ll be able to fulfil pilot programmes with some of the largest food producers in the industry. This will lead to scaled manufacturing for the first all-natural dissolvable food packaging.”