In its continuing efforts to drive environmental sustainability, HP Inc. announced the acquisition of Choose Packaging, a packaging development company and inventor of the zero-plastic paper bottle.
Choose’s patented technology provides an alternative to plastic bottles and can hold a variety of liquid products. 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.
With this acquisition, HP plans to use its 3D printing-enabled Molded Fiber Tooling Solution, designed to bring customizable, fiber-based products to market faster and more affordably. Recently, HP won the Gold Award in WTWH Media’s LEAP Awards for technical innovation for its Molded Fiber Tooling Solution.
With 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.
There are more than 150 million tons of single-use plastics produced each year and HP intends to disrupt this market with fiber-based, 100% plastic-free packaging. The fiber-based sustainable packaging market is valued at $10 billion.
“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,” said James Longcroft, founder and managing director, Choose 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.”
Choose works with many 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.
Financial terms of the transaction were not disclosed.
