Biffa has announced that it has completed its acquisition of the collections business and certain recycling assets from Viridor.
In May this year Biffa announced that it had entered into an agreement to acquire the collections business and ‘certain recycling assets’ from Viridor for a cash consideration of c. £126m.
Biffa says the acquisition will expand the company’s industrial and commercial collections business and recycling capabilities, broadening the Group’s customer base, and ‘solidifying its leading position in UK sustainable waste management’.
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
Biffa said the moves: “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 21 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.”