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BEWiSynbra acquires Dutch recycling companyBEWiSynbra Group, one of the leading producers of expandable polystyrene (EPS) in Europe, announces that the company today has entered into an agreement to acquire 75 per cent of the Dutch company De Wijs-van Loon BV including its subsidiary Poredo BV.
“I am very pleased to announce our acquisition of De Wijs-van Loon BV, a company in the forefront of converted recycled EPS. This acquisition confirms our commitment to lead the change in the EPS industry towards a circular economy, and fits very well with our strategic priorities,” says Jonas Siljeskär, CEO of BEWiSynbra.
“We are very excited to join BEWiSynbra,” says Bart de Wijs, managing director of Poredo BV. “We know that BEWiSynbra has been committed to sustainability and focused on reusing EPS long before sustainability became a buzzword. We now look forward to play an important part in working towards a circular economy for the whole EPS industry.”
De Wijs-van Loon BV and Poredo BV are active in the recycling industry, mainly in the southern part of the Netherlands. The operations include the full process of collecting used EPS packaging material, cleaning and conversion of used EPS. The end products are used in their original form by companies in the small furniture industry, construction and horticulture.
The transaction is made by way of an acquisition of 75 per cent of the shares in De Wijs-van Loon BV including its wholly owned subsidiary Poredo BV. The company will operate in close collaboration with BEWiSynbra but as a stand-alone company. The purchase price is not material relative to BEWiSynbra Group’s market value and is not disclosed. The consideration for the shares will be paid in cash upon completion.