Tönsmeier Group acquired

Germany-based GreenCycle has acquired waste management firm Tönsmeier Group, based in Porta Westfalica, Germany. The transaction is still subject to approvals, including by antitrust authorities. The parties have agreed not to disclose the financial conditions.

The sale was preceded by a structured process initiated by the Tönsmeier family earlier in 2018.

GreenCycle provides waste disposal and recycling services for the Schwarz Group, including for its Lidl and Kaufland retail divisions. The company handles around 2 million metric tons of recyclables per year, including OCC (old corrugated containers), PET (polyethylene terephthalate) and other grades of plastic.

GreenCycle operates five multiple-material yards and two PET recycling facilities in Germany.

GreenCycle indicates its planned acquisition of the Tönsmeier Group will expand its range of services in the environmental service branch while strengthening its internationalization.

“Our primary goal has been to find a financially strong new owner with strategic growth plans for continuing the Tönsmeier Group’s development,” says Jürgen Tönsmeier, chairman of the Tönsmeier Group. “We have achieved that goal with GreenCycle, whose offer we found the most convincing. Although GreenCycle is one of the largest trading companies in the world as part of the Schwarz Group, it is also a family-run company that thinks long-term and acts sustainably. I am convinced that this transaction will lead to good prospects for our customers and employees.”

Says Dietmar Böhm, managing director of GreenCycle, “GreenCycle pursues a clear growth strategy, aiming to establish itself in the market as a driver of the environmental service branch with sustainable innovations. This acquisition expands GreenCycle’s customer segment, and the company intends to use the services and solutions of the Tönsmeier Group to tighten cycle systems and promote recycling and recyclability.”