Under the agreement, IMC Licensing will represent TerraCycle partners’ pre- and post-consumer packaging waste that the company "upcycles" into new products. TerraCycle's current partners include many global brands. As a result of the agreement with IMC Licensing, this packaging waste will be available to licensees to create new consumer products such as bags, gifts, toys and a variety of school, home, office, garden and pet supplies.
IMC Licensing also will license the TerraCycle brand for use on other products made from environmentally-friendly recycled materials. Potential licensing categories include back-to-school supplies, toys, housewares, pet accessories, fashion accessories and home improvement products.
Currently, TerraCycle "upcycled" products are available at major retailers such as Wal-Mart and Target, as well as online. In addition, IMC Licensing will explore options for TerraCycle to use licensing as a model to gain leverage in other parts of their business.
"We believe there is a huge opportunity to expand TerraCycle to lines of ‘upcycled’ and recycled products that are good for consumers and the environment," says Cara Bernosky, president and co-founder of IMC Licensing. "This truly authentic green brand will speak to consumers at a time when they are seeking more environmentally friendly options and are proud to let others know they are doing so."