Packaging group Færch Plast has acquired Netherlands-based packaging material and recycling specialist 4PET Group, as the company aims to achieve a circular economy for recycling food trays.
4PET Group is a PET recycling specialist, and can recycle approximately 30,000 tonnes of PET material such as food trays and beverage bottles every year thanks to its bespoke technology.
The group operates four recycling sites in Europe, and the company had a turnover of approximately €50 million in 2017.
Færch Plast estimates that the transaction should be completed by the third quarter of 2018, and that the acquisition will help it “close the loop” on plastic food trays by allowing it to recycle food trays on an industrial scale.
Færch Plast Group’s CEO, Lars Gade Hansen said: “For years, Færch Plast has been promoting sustainability, and all of our products are designed for recyclability.
“The acquisition of 4PET Group is an outstanding opportunity for us to close the loop and a leapfrog in terms of sustainability.
“With the modern infrastructure in place at 4PET to sort and process disposed plastic trays, we are able to transform used trays into raw material for new food contact products.”
“The recycling system offered by 4PET Group is an innovative, industrial-scale break-through in our transition towards a sustainable circular economy. It enables us to take responsibility for the post-consumer phase of our trays.”
Jean-Loup van de Wiele, joint founder and CEO at 4PET Group added: “For many years, we have offered ‘bottle-to-bottle’ solutions, while witnessing the vast growth of the PET tray market.
“We are very excited that we are among the first to offer an industrial ‘tray-to-tray’ solution. With our bespoke technology, we recycle and process PET of any colour including black packaging.”
His fellow founder and CFO Hans Kuipers added: “We are delighted to join Færch Plast to accelerate our growth and jointly continue our strategy of offering recycled materials to our customers.
“Our customers will enjoy an even higher level of dedication and service going forward.” The two founders will continue to own a significant portion of the shares and continue to run the company.”
© FoodBev Media Ltd 2020