Versalis: acquisition of Novamont completed

Versalis announces that it now holds the entire share capital of Novamont, of which it already owned 36%. The transaction, announced on 28 April and authorised by the relevant authorities, was completed today with Mater-Bi, a subsidiary of Investitori Associati II and NB Renaissance, acquiring 64% of Novamont’s shares.

Novamont, whose CEO remains Catia Bastioli, is a benefit company, certified B Corporation, and a world leader in the production of bioplastics and the development of biochemicals and bioproducts through the integration of chemistry, environment and agriculture. Novamont has 650 employees and is headquartered in Novara. It has production plants in Terni, Bottrighe (RO) and Patrica (FR); research laboratories in Novara, Terni and Piana di Monte Verna (CE), as well as the Matrìca site in Porto Torres (SS) (in an equal joint venture with Versalis) and a company with Coldiretti for the development and distribution of agricultural solutions. It holds around 1,500 patents and patent applications and has an international presence with offices in Germany, France, Spain and the United States and a network of distributors in over 40 countries worldwide. Following the acquisition of a Norwegian company that is a world leader in the development, production and marketing of certified biodegradable and compostable applications, it now also has a production plant in Estonia.

Adriano Alfani, Versalis’ CEO said: “The acquisition of Novamont will allow us to drive our strategy towards chemistry from renewables through the integration of the two portfolios. Today the process of integrating our businesses begins, which will enhance the skills of our people and establish a business plan that will leverage a unique technology platform and an increasingly low-carbon product portfolio, in line with Versalis’ strategy and Eni’s energy transition journey”.