VONORE, Tenn.--(BUSINESS WIRE)--Genera has acquired the assets of molded fiber manufacturer and equipment supplier Zume Inc, continuing its expansion into food and consumer products, and cementing its leadership position in the industry.
Genera secured the assets in a cash transaction. The purchase includes all Zume assets held in Camarillo, California, including thermoforming equipment, supporting systems and related auxiliary items.
Ben Mascarello, Genera CEO, was pleased by the result of the process. “We are excited to capitalize on the opportunity to acquire Zume’s assets,” said Mascarello. “The strong financial backing of our ownership team has enabled us to accelerate our expansion plan and quickly meet the needs of our growing customer base. Genera continues to lead the transition to a biobased economy with molded fiber products as the first pillar.”
James Davidson, Genera Chief Commercial Officer, stated, “Molded fiber is part of a dynamic, fast-changing market. While we know Zume faced challenges in scaling its business, we are excited to leverage the acquired assets to expand our highly innovative product line. Genera is continuously working to support customers in food and consumer applications with high performance molded fiber packaging.”
The transaction process was led by Kelly Tiller, Genera founder and Chief Strategy Officer. “We believe that circularity without extraction is possible, and that our business practices should not only do less harm but should actively help to regenerate the earth,” said Tiller. “We will be working to integrate all relevant components between our Innovation Center in Houston, TX, and our existing Vonore, TN campus, continuing our progress toward a more sustainable future.”
Genera is a vertically integrated manufacturer of sustainable and compostable products for foodservice, retail, and consumer packaging made from locally grown perennial grasses. Genera offers consumers sustainable alternatives to plastics with direct benefits to local farmers and communities and a significantly lower carbon impact. Genera is currently expanding its integrated non-wood pulp and molded fiber manufacturing operations located in Vonore, Tennessee, with plans to build additional plants across the U.S. Learn more at Genera.
