Cedo, a producer of household products, largely for the private-label sector, has announced the acquisition of Plasta Group, one of Europe’s largest polyethylene recyclers.
The acquisition of Vilnius, Lithuania-based Plasta Group follows on from Cedo’s acquisition of Vinatic, a leading flexible plastic recycler in Vietnam, last summer.
According to Cedo, the latest acquisition positions the business as ‘the largest integrated circularity platform for flexible plastic films servicing Europe’, with the capacity to recycle more than 200,000 tonnes of plastic waste, as well as producing plastic bags and other film-based products made with recycled content.
Going forward, the company added that it will be able to offer a broader range of sustainable solutions, in order to meet the growing demand for circularity in flexible plastics.
‘Expertise and shared commitment’
“Plasta Group’s expertise and shared commitment to sustainability align perfectly with our vision,” commented Thierry Navarre, chief executive of Cedo.
“This partnership strengthens our ability to lead the circular economy in our sector, delivering innovative solutions to our customers and driving a more sustainable future.”
About Plasta Group
Plasta Group, which boasts manufacturing facilities in Lithuania and Sweden, recycles 45,000 tonnes of post-consumer plastic waste each year and produces 36,000 tonnes of refuse sacks and film products. It holds a number of certifications, including EcoVadis Silver, ISO standards, Blue Angel, RAL, and RecyClass.
The two companies said that they will ‘work together to ensure a seamless integration process while maintaining their focus on exceptional quality and customer service’. The value of the acquisition was not revealed.
As well as its takeover of Plasta Group and Vinatic, which Navarre described as a “pivotal milestone” earlier this year, Cedo has also recently invested in its recycling site in the Netherlands. Cedo employs more than 2,000 people across its facilities in Europe and Asia, and has a turnover of around €500 million. Read more here.
