Biffa plc, a large integrated waste management business based in the United Kingdom, has announced it has completed its acquisition of the collections business and certain recycling assets of Viridor Waste Management Ltd., also based in the U.K. Biffa initially announced the acquisition May 21. Viridor sold the assets to Biffa for 126 million pounds (or about $154.3 million).
The company reports that the acquisition expands Biffa’s industrial and commercial (I&C) collections business and recycling capabilities, broadening the company’s customer base and solidifying its position as a leader in sustainable waste management in the U.K. Biffa now owns Viridor’s network of 15 I&C depots for business waste.
The acquisition also solidifies Biffa’s record as a consolidator of the U.K. I&C collections market and indicates the company’s commitment to sustainability strategy, making the company one of the largest recyclers of postconsumer materials in the U.K., the company states in a news release on the acquisition.
“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,” says Michael Topham, chief executive of Biffa. “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.”