Stein Fibers Announces Acquisition Of Banyan Plastics

ALBANY, N.Y.— May 30, 2024 — Stein Fibers LLC, a  global supplier of sustainable fiber and polymer solutions, has acquired Banyan Plastics LLC, a distributor of recycled materials. The acquisition will accelerate Stein’s growth strategy in the sustainable polymers market, while providing desired distribution services to the most strategic PET manufacturers around the globe. This acquisition will further Stein’s ability to enable sustainability solutions to a diverse customer base throughout multiple end use markets.

“We are excited to onboard the team from Banyan Plastics LLC,” said Jaren Edwards, president of Stein Fibers. “Together, we are better equipped to help our customers meet their published sustainability goals within the recycled plastics marketplace. Even more important is the value and efficiency we provide to recycling facilities around the world. Our combined expertise and scale will provide solutions that have never been offered on a consistent basis to both our suppliers and customers.”

“We are thrilled about the opportunity to join the Stein Fibers LLC organization,” said Sloan Sherman, managing director at Banyan Plastics. “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.”

“After working with Sloan and the entire Banyan team for many years, we are excited for them to join our organization,” said Robert Taylor, COO of Stein Fibers. “For years, Stein has focused our experience and expertise to bridge global supply chains and create value for both our supplier and customer partners. This value allows both to concentrate on their manufacturing excellence and operational efficiencies without the added logistical challenges that persist globally. We look forward to working with the entire Banyan team to incorporate many of these same benefits for their customers and suppliers as well.”

Posted: May 31, 2024

Source: Stein Fibers, LLC