Specialty chemicals group Altana has acquired NuLabel Technologies, which develops engineering and material science solutions to enhance packaging design using less material.
The companies have agreed not to disclose the purchase price.
The deal includes a technology portfolio for label and packaging technologies, as well as a research and development platform.
The technologies that were purchased will be induced into the Actega North America division of Altana.
Located in East Providence, Rhode Island, NuLabel was established in 2009 to create an environmentally responsible labeling solution.
The company, which was founded by three Brown University graduates, has a team of chemists, engineers, technicians, and business development pros.
NuLabel Technologies president Benjamin Lux said: “We found a new owner in Altana who is in a position to integrate our innovation pipeline into its core business and to bring it to market readiness.
“We know that our innovation team and our technology solutions are in the best of hands with Actega, a company that has long-standing experience as a leader of new and sustainable technologies for the packaging industry.”
“Mr. Lux will join the Actega North America team and industry veteran Harold Schofield will continue leading NuLabel as interim CEO.”
Actega North America president and CEO Mark Westwell said: “NuLabel’s innovation team, intellectual property, and projects are an ideal addition to our growing portfolio. They have the potential to provide new growth opportunities to our customers in the packaging industry, and, at the same time, to make an important contribution to sustainability.”
