Green Dot acquires bioplastic business
Cottonwood, Kan.-based Green Dot Holdings LLC has acquired the bioplastics division of Atchison, Kan.-based MGP Ingredients Inc. The acquisition includes a manufacturing facility located in Onaga, Kan., certain assets at the company’s research and development facility in Atchison, and three lines of bioplastic materials currently sold by MGP under the Terratek brand name.
The acquisition increases Green Dot’s product offerings. The Terratek line of products includes wood-based bioplastics, starch composites and biodegradable starch-based resins. In addition to its elastomers and the Terratek line, Green Dot can also develop customized client formations using starch, wood and other biomass materials. According to the company, its state-of-the-art compounding lab can quickly develop and test formulas for specific formulations.
According to Green Dot CEO Mark Remmert, additional acquisitions could be in his company’s future. “We do have an ambition and desire to continue to grow the company,” Remmert said. Green Dot is also investigating the use of alternative feedstocks for manufacturing its bioplastics. “We hope to start two projects this year that would take us down a path of using other starches, for example, to replace the corn and wheat starches that we use today,” he continued.