A $100 million company that owns a New Jersey deli announced Friday that it would merge with a bioplastics firm. Hometown International, which owns a small deli named Your Hometown Deli in Paulsboro, New Jersey, said Friday it would partner with Makamer, which seeks to replace petroleum-based plastics with hemp-based ones.
Makamer’s CEO told CNBC the move was beneficial for the company as it sought to go public, arguing that the move would please the company’s investors. The same was said by Hometown’s CEO, who has positioned the company as a vessel for private companies to become publicly traded ones. Neither company disclosed what would become of the lowly deli, which made just over $25,000 in all of 2021, though a woman who answered a call by CNBC said the merger would not affect it.