£10m boost for expansion

PAPER straw maker to McDonald’s, Transcend Packaging, has secured a £10m equity investment to support is expansion plans.

The Ystrad Myanch-based business has been backed by private equity firm IW Capital, which will allow it to accelerate its range of paper-based alternatives aimed at reducing single-use plastic.

It uses digital printing and speciality coating technology to produce paper straws, cups and food containers.

Since being set up in 2017 the company has seen significant growth and partnerships with leading consumer brands, that also include Starbucks and KFC.

With bans on plastic straws and other single-use plastics coming into effect in the UK from this October and the EU from April 2021, Transcend is well positioned to help its clients make the transition to paper straws and other sustainable products.

Transcend expects to use the investment to cement its leadership position in the European marketplace.

The company believes that recent events have shown the importance of having locally sourced supply chains.

Lorenzo Angelucci, chief executive of Transcend Packaging, said: “We are proud to have such a strong partner as IW Capital join our team. We believe this validates the path we set upon in 2017 to build a global leader in sustainable packaging.

“We have a long path ahead of us, but with our new partner, we are sure to have the support we need build our vision.”