Biffa Completes Acquisition Of Viridor's Collections Business And Certain Recycling Assets
Biffa plc has announced that it has completed its acquisition of the Collections business and certain recycling assets from Viridor Waste Management Limited*.
It first announced the intent of acquisition back on the 21st of May. The acquisition will expand Biffa's I&C collections business and recycling capabilities, broadening the Group's customer base, and solidifying its leading position in UK sustainable waste management. It builds on Biffa's strong track record as the leading consolidator of the highly fragmented UK I&C collections market and underpins the Group's commitment to its sustainability strategy, strengthening Biffa's position as one of the largest recyclers of post-consumer materials in the UK.
The acquired Viridor business has traded in line with expectations since 21st May 2021.
Michael Topham, Chief Executive of Biffa, commented: "The acquisition of Viridor's collections business and certain recycling assets is another significant step for Biffa, strengthening our leadership positions in a number of our core markets and accelerating the delivery of our growth strategy as we continue to leverage the Group's unique position at the heart of the circular economy.
"On behalf of everyone at Biffa, I'm delighted to officially welcome our new Viridor colleagues to the business and look forward to working together as we continue to pursue the exciting growth opportunities that lie ahead."
* via the acquisition of Syracuse Waste Limited ("Syracuse"), a special purchase vehicle established to facilitate the acquisition of the Collections business and certain Recycling assets from Viridor Waste Management Limited.
