Biffa completes the acquisition of Viridor's Collections business and certain Recycling assets
Further to the announcements on 21 May 2021 and 5 July 2021, Biffa plc announces that it has completed its acquisition of the Collections business and certain recycling assets from Viridor Waste Management Limited.
Biffa completes the acquisition of Viridor's Collections business and certain Recycling assets
Further to the announcements on 21 May 2021 and 5 July 2021, Biffa plc announces that it has completed its acquisition of the Collections business and certain recycling assets from Viridor Waste Management Limited*.
The acquisition will expand Biffa's I&C collections business and recycling capabilities, broadening the Group's customer base, and solidifying its leading position in UK sustainable waste management. It builds on Biffa's strong track record as the leading consolidator of the highly fragmented UK I&C collections market and underpins the Group's commitment to its sustainability strategy, strengthening Biffa's position as one of the largest recyclers of post-consumer materials in the UK.
The acquired Viridor business has traded in line with expectations since 21 May 2021.
Michael Topham, Chief Executive of Biffa, commented:
"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.
"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."
NOTES
* via the acquisition of Syracuse Waste Limited ("Syracuse"), a special purchase vehicle established to facilitate the acquisition of the Collections business and certain Recycling assets from Viridor Waste Management Limited.
-ENDS-
Enquiries:
Biffa
Investors & Analysts
Michael Topham, Chief Executive Officer or Richard Pike, Chief Financial Officer
ir@biffa.co.uk
Media
Houston
0204 529 0549
biffa@houston.co.uk
Cautionary statement regarding forward-looking statements
This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the Company's business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to them at this time, the actual outcome may be materially different owing to factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. Accordingly, no reliance may be placed on the figures contained in such forward-looking statements.
The forward-looking statements contained in this document speak only as of the date of this announcement, and Biffa does not undertake to update any forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
About Biffa
We've been leading the UK's waste management industry for over 100 years and have a strong track record of growing our profits and returns to shareholders, whilst reinvesting to grow our business.
Today Biffa is an established enabler of the UK circular economy and our team of more than 9,000 colleagues carry out essential operations every day including surplus redistribution, recycling, treatment, energy generation, collection and disposal.
Our purpose is 'to change the way people think about waste' and sustainability has been at the heart of our business strategy for many years. Our areas of focus essentially reflect the waste hierarchy - to Reduce, Recycle, Recover and Collect.
We have already made huge strides in our sustainability journey by investing in surplus redistribution, plastic recycling, energy from waste infrastructure and low carbon collections, leading to a 70% reduction in our carbon emissions since 2002. Our sustainability strategy, 'Resourceful, Responsible', will see us unlock £1.25bn of investment in vital green economy infrastructure by 20301, of which £1bn has already been unlocked, while further reducing our carbon emissions by 50% by 2030. We aim to have net zero emissions by no later than 2050.
We understand that we must lead by example and are committed to further improving health, safety and wellbeing in our sector. We are proud to have been awarded a 5 star grading by the British Safety Council. We have also made strong progress in making sure Biffa is an inclusive place to work where diversity is championed and our >9,000 strong workforce feel valued and understand the positive contribution they make to enabling the UK circular economy.
Our long-standing Biffa Award programme supports sustainable projects across the UK which deliver environmental benefits while making a valuable contribution to local communities. Our partnership with WasteAid helps countries in the developing world with managing their waste more sustainably.
Biffa is a Great British Company, listed on the London Stock Exchange (LSE:BIFF) and a member of the FTSE 250.