Agilyx has entered into a binding agreement to acquire 44% of GreenDot, aiming to strengthen Agilyx’s presence in the European market and create a global platform for sourcing and supplying feedstock to the advanced recycling industry.
GreenDot is a circular plastic recycling platform licensed across 29 countries, said to be the “most recognized” recycling brand in Europe. GreenDot reportedly processes more than 1 million tonnes of packaging waste annually, including over 400,000 tonnes of plastic.
The company is expanding its advanced recycling feedstock supply capabilities by investing in sorting facilities in Austria and Italy. GreenDot’s operations this year are expected to generate approximately €400 million in total sales and double-digit EBITDA.
The transaction is fully financed by certain existing investors through a €20 million subordinated loan facility. The transaction is expected to close in late Q3 2025, subject to customary conditions including regulatory approval under German foreign direct investment laws, lender consent for change of control at GreenDot, and Agilyx shareholder approval for the issuance of the Consideration Shares at an Extraordinary General Meeting (EGM).
In other business news, PulPac received €20 million in funding from the European Investment Bank (EIB) last month to scale its patented Dry Molded Fiber technology for bottles, coffee cup lids, pharmaceutical packaging, and more. Compared to traditional wet moulding, Dry Molded Fiber is designed to speed up the production of rigid packaging from renewable cellulose fibre while also reducing its environmental impact.
Also in July, Greif announced it is divesting its containerboard business – including containerboard mills, sheet feeders, and corrugated plants – in a $1.8 billion all-cash transaction to Packaging Corporation of America. The business consists of two containerboard mills, eight sheet feeders (including its CorrChoice sheet feeder network) and corrugated plants across the United States, said to offer 800,000 tonnes of production capacity.
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