Faerch acquires leading recycler 4PET Group
Faerch is closing the loop on plastic food trays with the acquisition of Dutch 4PET Group, a leading sheet manufacturer with unique recycling capabilities. With this acquisition, Faerch is becoming one of the world’s first integrated plastic packaging suppliers that achieves a circular economy for recycling food trays on an industrial scale, turning plastic packaging into a resource.
“For years, Faerch has been promoting sustainability, and all of our products are designed for recyclability. The acquisition of 4PET Group is an outstanding opportunity for us to close the loop and a leapfrog in terms of sustainability. With the modern infrastructure in place at 4PET to sort and process disposed plastic trays, we are able to transform used trays into raw material for new food contact products”, says Faerch Group’s CEO, Lars Gade Hansen.
An industrial scale break-through
“The recycling system offered by 4PET Group is an innovative, industrial-scale break-through in our transition towards a sustainable circular economy. It enables us to take responsibility for the post-consumer phase of our trays”, adds Lars Gade Hansen.
4PET Group is a leading European material specialist for PET sheets and food contact quality recycling. With 200 employees across four sites, the company had a turnover of more than Euro 50 million in 2017 and continues to grow rapidly. 4PET Group is looking forward to continuing to serve its existing as well as new customers under the stewardship of its new owners.
“For many years, we have offered ‘bottle-to-bottle’ solutions, while witnessing the vast growth of the PET tray market. We are very excited that we are among the first to offer an industrial ‘tray-to-tray’ solution. With our bespoke technology, we recycle and process PET of any colour including black packaging“, says Jean-Loup van de Wiele, joint founder and CEO at 4PET Group. His fellow founder and CFO Hans Kuipers added: “We are delighted to join Færch to accelerate our growth and jointly continue our strategy of offering recycled materials to our customers. Our customers will enjoy an even higher level of dedication and service going forward.” The two founders will continue to own a significant portion of the shares and continue to run the company.
Plastic packaging in a circular economy
“With the shift from a linear to a circular economy, plastic food packaging becomes a sustainable packaging choice for the food industry. At the same time, thanks to our advanced technology and product innovation, we can offer value-add packaging solutions that prolong shelf-life and keep food both fresh and safe”, says Lars Gade Hansen.
The transaction is expected to close during the third quarter of 2018, subject to customary closing conditions and regulatory approvals.