Biffa agrees £126m deal for Viridor assets
Fri, 21 May 2021 | BUSINESS SALE
Biffa has agreed a deal to acquire the collections business and certain recycling assets of rival waste management company Viridor for £126 million. The deal continues Biffa’s consolidation within the waste management industry, with the company having made 45 acquisitions in the past 8 years.
The acquisition of the £85 million revenue collections business sees Biffa take on Viridor’s 270 vehicle Industrial and Commercial (I&C) fleet and 15 depots across the UK which serve around 21,000 customers. The operation will be integrated into Biffa’s UK I&C business.
Biffa will also acquire a £39 million turnover portfolio of Viridor’s recycling and treatment centres. These sites provide composting and materials recycling services, among others, and have long-term supply contracts with local authorities.
Acquiring the assets, which processed 272,000 tonnes of waste material in total last year, will play a key role in Biffa’s growth plans as it looks to solidify its status as a the UK’s leader in sustainable waste management.
Biffa Chief Executive Michael Topham commented: “The acquisition of Viridor’s collections business, and certain recycling assets, is a compelling opportunity for Biffa. The addition of Viridor’s £85m collections revenues builds on the Group’s strong track record as the leading market consolidator in the highly fragmented I&C collections market.”
“In addition, the acquired recycling and treatment assets broadens our coverage and control of materials, strengthening Biffa’s position as one of the largest recyclers of post-consumer materials in UK.”
“When combined with the other investments we have made over the past year across waste reduction, recycling and energy recovery, we have positioned the Group as a leading enabler of the UK circular economy, ready to tackle the UK’s waste challenge.”
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