Anglo-Dutch waste and recycling firm, Renewi plc (LSE:RWI) has today acquired Rotie Organics, a business that collects, sources, de-packages and pre-treats out of date food waste.
The deal has been completed for a nominal sum, and includes the transfer of 45 people, over 20 trucks, customer contracts and a de-packaging facility.
The de-packaging facility is conveniently located opposite Renewi’s Anaerobic Digestion (AD) plant in Amsterdam. The acquisition will enhance Renewi's position in the Dutch organics market, strengthening the existing capability to convert out of date food into products and energy.
According to Renewi it creates a platform for on-going growth in this growing market segment and fits well with its waste-to-product vision and circular business model.
Orgaworld, part of Renewi’s Organics business, makes products such as green electricity and compost out of the food waste. It has five facilities in the Netherlands, primarily based on composting, anaerobic digestion and waste water treatment technology.
In the Amsterdam area alone, Orgaworld produces enough green energy to power approximately 15,000 homes.
“This acquisition is an exciting development for us,” commented Otto de Bont, CEO of Renewi. “It enhances our leading position in the Dutch organics market, strengthens the Renewi brand and creates a platform for future growth.”
“It is also in line with our strategy to manage our portfolio of assets by deploying capital into segments where we can deliver attractive returns and growth. The organics sector is growing, and we are well placed to capture the benefits,” he concluded.
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