Reconomy has announced a further acquisition in the international marketplace, by agreeing to purchase the Munich-based Reverse Logistics Group (RLG).
Reconomy says the acquisition of RLG gives it a ‘truly global presence’
RLG describes itself as a “leading provider of outsourced resource management and environmental services” in more than 80 countries, including Chile, India and the US.
It helps customers deal with the environmental, regulatory, and logistical demands facing businesses.
The deal is the second international acquisition Reconomy has made in recent months, after acquiring Cologne-based “waste disposal provider” Noventiz in October.
‘Hugely exciting’
Reconomy’s chief executive Paul Cox
Commenting on the deal, Reconomy’s chief executive Paul Cox, said: “This is a hugely exciting move for the Reconomy Group. Having taken our first step into the international market a few weeks ago, the acquisition of RLG gives us a truly global presence.
“It’s a major event in our journey, of which we are very proud. Looking at the consumer trends that will affect businesses going forward within the circular economy, we believe that broadening our capability – adding reverse logistics alongside our core resource management and environmental compliance offering – will ultimately bring significant benefit to Reconomy customers in the years to come. We’re delighted to welcome RLG’s experienced management team and all of their colleagues into the Reconomy family”.
Turnover
According to Reconomy, Turnover for RLG in 2020 is forecast to be greater than €170 million (£155 million). Combined with the existing Reconomy Group, this takes pro-forma 2020 revenues above £465m.
Reconomy added that the acquisition “not only creates a leading global presence in core disciplines, it also adds an entirely new capability to the Reconomy Group and its clients, one specialising in reverse logistics”.
The company added that the deal is a key part of Reconomy’s “long-term strategic plan to become a global leader in tech-enabled services to drive the circular economy”.
Next phase
Patrick Wiedemann, chief executive of RLG, added: “After an outstanding development of RLG in the past years, positioning the group as a leading global market player in the reverse logistics space with highly innovative solutions, we are now looking very much forward to continuing this success story as part of Reconomy Group.
“This enables us to now move to the next phase of our strategic development and further expand our service offering”
“This enables us to now move to the next phase of our strategic development and further expand our service offering. The capabilities of Reconomy and RLG in combination build the basis to be a global leader in circular economy solutions, acting as an enabler for the transformation towards true environmental sustainability for our customers, while at the same time ensuring an outstanding customer experience in the returns process. We are very much looking forward to the exciting journey ahead”.
The post Reconomy continues international expansion appeared first on letsrecycle.com.
Source: letsrecycle.com Waste Managment
