Stein Fibers LLC is acquiring recycled materials distributor Banyan Plastics LLC, a move that accelerates Stein's growth in the sustainable polymers market, the company said.
Stein, based in Albany, N.Y., calls itself one of the largest suppliers and producers of polyester fiberfill and nonwoven fibers in North America, with annual shipments exceeding 500 million pounds.
Banyan, of West Palm Beach, Fla., is described by Stein as a supplier of recycled materials for industries including packaging, textiles, thermoforming and PET sheet.
"Together, we are better equipped to help our customers meet their published sustainability goals within the recycled plastics marketplace," Stein President Jaren Edwards said in a statement. "Even more important is the value and efficiency we provide to recycling facilities around the world."
"This partnership allows the Banyan team to focus on the commercial aspects of the business and enjoy the infrastructure already present at Stein for an improved customer experience," said Sloan Sherman, managing director at Banyan Plastics, in a statement.