Rotovia BV, a new company that purchased Berry Global Group Inc.'s rotational molding operations earlier this year, has outlined plans to double its international business by 2028.
Rotovia is counting on strong organic growth through product innovations and expects to expand its staff "significantly," though it did not reveal specifics. It plans to enter new segments "in existing geographies" and expand in current segments, it said in a recent news release. The company said it will also probe opportunities in mergers and acquisitions.
Emphasizing sustainability, Rotovia said it will introduce a product take-back recycling program and invest in research and development to reach more than 20 percent reused content in new products by 2028.
Private equity funds Freyja and SÍA IV of Reykjavík, Iceland, formed Rotovia as an umbrella company for their existing rotomolding operations combined with Berry's. Evansville, Ind.-based Berry's rotomolding business operated in its Consumer Packaging International segment, and produced net proceeds of $108 million.