Foraying into bio-based barrier materials, Kuraray (Tokyo / Japan; www.kuraray.co.jp/en) in April acquired bio-based barrier film producer Plantic Technologies (Laverton North, Victoria / Australia; www.plantic.com.au). Financial details of the deal were not disclosed. The Japanese group said the purchase would allow it to meet rising global demand for bio-based food packaging materials. Kuraray added that it expects this particular business to achieve revenues of JPY 10 bn (about EUR 80m) globally over the next three years.

Founded in 2001, Plantic produces bio-based barrier materials using a patented polymer technology based on high-amylose starch. The company’s roughly 70 employees last posted sales of about JPY 3 bn (EUR 24m). Its products are used in a broad range of barrier packaging solutions in Australia, North America and Europe.

Kuraray said it expects significant synergies between its existing barrier business and that of Plantic, adding that its own global sales network will help it further develop the bio-based barrier business in Europe, the US and Asia. The Japanese company in September last year became the exclusive distributor of Plantic’s portfolio in Japan and South Korea.