23rd November 2023, New Delhi — Pakka, a pioneer in the compostable packaging industry, has announced the appointment of Eduardo Estrada as the new CEO of Pakka USA. With over 30 years of agricultural and food industry experience, Eduardo is uniquely qualified to navigate essential transformations for a cleaner planet. He envisages an ambitious journey for Pakka USA, commencing with establishing the first production site in Guatemala, which is expected to be the largest facility in the world for compostable flexible packaging & molded fiber.
He holds a degree in Agriculture and Food Science from California Polytechnic State University, as well as an MBA from Thunderbird School of Global Management in Phoenix, Arizona. His extensive career has seen him in crucial leadership roles across the Latin American food and agriculture sector. Further, his professional achievements include tenures as CEO of Corporation San Diego in Guatemala and key positions at global giants like Bayer Crop Science, DSM, and Syngenta.
Ved Krishna, Strategy Head, Pakka India, said, ‘We are on a global quest to scale regenerative packaging solutions and the only way this is possible is by having the right leadership and talent in place. We are fortunate to have Eduardo lead our Americas’ venture especially since he comes with vast experience and know-how for managing scaled operations in similar domains in both Latin and North American markets. He is also deeply aligned to Pakka’s philosophy of contributing towards each stakeholder and enabling each team member to grow towards their highest potential.’
Coming from a region similar to India (Guatemala) in terms of the availability of resources, number of people engaged in agriculture, and population density, Eduardo believes that one can overcome scarcity with the power of innovation. Given his background and career stage, he is a suitable fit for devising policies and strategies for crafting compostable food packaging from agricultural waste and leading the world towards a greener and cleaner future. Therefore, the appointment of Eduardo signals a decisive stride in Pakka’s global mission to work towards a cleaner planet.
Eduardo’s first assignment in his new role is overseeing the setup of the state-of-the-art facility involving an investment of USD 250 million (approximately Rs 2,065 crore).
The new facility is expected to have a production capacity of 400-ton-per-day bagasse pulp. Out of this, 200 tonnes per day will be dedicated to the production of compostable flexible packaging. In addition, the facility will have a production capacity of 100 TPD each in molded fibre products category and mineral bag pellets. The ambitious plan signifies Pakka’s commitment to bring about a shift in the packaging sector, and Eduardo will spearhead this initiative.
The strategic significance of Eduardo’s appointment cannot be overstated. He comes in at a time when the world is making significant strides towards compostable packaging. The North America packaging market is touted to be worth USD 44.66 billion at present. Likewise, the global market size is poised to soar to a staggering $600 billion by 2030, a steep rise from the current valuation of $360 billion.
Eduardo Estrada, CEO, Pakka USA said, “I am honoured to join the team at Pakka USA and embark on this exhilarating journey toward a greener planet. We stand on the precipice of change, armed with a mission to transform agricultural waste into innovative, compostable food packaging. This opportunity aligns with the critical needs of our time, and I am committed to leveraging it to make a substantial and enduring difference.”