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United States : TRELLIS EARTH PRODUCTS to acquire CEREPLAST assets

June 23, 2014

Trellis Earth Products, Inc. will pay $2.6 million for all of Cereplast s assets including production equipment, patents, inventory, and trademarks, plus pay certain contract cure costs, as part of Cereplast s liquidation proceedings. US Bankruptcy Judge Basil H. Lorch III entered the sale for the assets of Cereplast, including its former Seymour bioplastics factory.

The acquisition of this factory will enable to us to quickly become the pre-eminent American supplier of bioplastic food service disposables.

Trellis Earth is a 7-year old company with over 500 customers in the food service industry including Kroger, Trader Joe s, and Wegmans. Key products provided include bio-based cutlery, food containers, and shopping bags.

Trellis Earth is a privately held company with nearly $20 million of sales since its founding in 2007. The company is targeting $8.5 million in revenue for 2015 based on strong forecast demand from customers seeking its corn starch, proprietary bioplastic finished goods. The 105,000 sq ft facility acquired from Cereplast existed annual bioplastic manufacturing capacity to produce materials worth over $50 million.

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Source: TendersInfo (India)

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