Planet First Partners acquires stake in Polymateria for €16.5m
Planet First Partners has acquired a significant minority stake in plastics company Polymateria.
Polymateria is expected to reach sales of €33m in 2021, according to a report.
The company will be chaired by Marc Bolland, former CEO of Marks & Spencer. Simon Susman, the former CEO of retail group Woolworths, will also become a director there.
Polymateria is the second investment from Planet First, which was launched by Frédéric de Mévius, previously an owner of a stake in AB InBev. The fund previously invested in N + P, which recycles waste into fuel.
Company
Polymateria is a London-based company that has developed a way of making plastics biodegradable and compostable. The company was founded in 2015.
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