/ -- Firmenich, the world's largest privately-owned Perfume and Taste company, is today announcing its joint participation with Quadia in green packaging pioneer LOOP's Series A equity round. Announced at the American Cleaning Institute's (ACI) annual convention, this investment demonstrates the Group's commitment to the circular economy and addressing sustainability in a single-use era. Supported by some of the largest consumer brands, with early partners including Procter & Gamble, Unilever and Nestl, LOOP is a new, disruptive e-commerce and retail distribution service based on reusable packaging.
"As a global environmental leader with a unique legacy in responsible business, we are firmly committed to eliminating non-recycled plastics in our operations and supply chains," said Gilbert Ghostine, CEO Firmenich. "Our participation in LOOP's pioneering model to remove waste marks a new milestone in our journey to foster sustainable production and our active support for the circular and regenerative economy."
"Single-use waste is a growing environmental issue that no company can ignore. We need innovative businesses like LOOP and collaboration between multiple stakeholders to tackle such a global challenge," said Dr Brangre Magarinos-Ruchat, Chief Sustainability Officer Firmenich. "We are delighted to contribute to LOOP's growth and the acceleration of sustainable lifestyles."
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