Cardia Bioplastics to merge with Stellar Films Group

By Jenny Eagle

- Last updated on GMT

Related tags Marketing Mergers and acquisitions

Stellar films and laminates can be used for many types of packaging such as wicketed bags or bubblewrap.
Stellar films and laminates can be used for many types of packaging such as wicketed bags or bubblewrap.
Cardia Bioplastics has signed an agreement to merge with Stellar Films Group, due for completion March 20, 2015.

Following completion of the proposed merger, it is anticipated Cardia shareholders will own 42% of the merged group and the owners of Stellar Films will own 58%.  

Films, packaging and waste management

Cardia Bioplastics intends to hold an Extraordinary General Meeting of shareholders on March 17.

The Cardia Bioplastics Board is excited about the intended merger with Stellar Films Group, a business that will complement and strengthen our Cardia Bioplastics business in its product offering, market position and global reach​,” said Richard Tegoni, chairman, Cardia Bioplastics.

The combined business has the scale and resources to deliver the successful implementation of our profitable business growth strategy in our carrier bags, films & packaging, and waste management target market segments​.

We look forward to working with the Stellar Group Board and management to bring the merger transaction to a successful conclusion​.”

Biohybrid films

Cardia Bioplastics and Stellar Films originally partnered to produce environmentally friendly, Biohybrid films tailored for the global personal care and hygiene products industry.

The cooperation between the companies over the last three years saw a strategic fit of the two businesses and the major benefits of a merger.

Stellar Films is an Australian privately owned company that manufactures and markets cast films to the personal care, hygiene and medical product industries. The company is headquartered in Melbourne and operates manufacturing facilities in Melbourne and Port Klang, Malaysia.

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