— By Plasteurope.com correspondent — 

UK-headquartered plastic bag manufacturer and waste recycler Cedo (Telford; www.cedo.com) has announced the acquisition of Lithuanian Plasta Group (Vilnius; www.plastagroup.com), for an undisclosed sum. Plasta Group makes rubbish bags and other polyethylene film products from recycled waste plastic, sourcing its waste across western Europe, Scandinavia, and the Baltic countries.

The deal is Cedo’s second this year, having bought Vietnam-based plastics recycler Vinatic in September. Financial details of that acquisition were also not made public.

Cedo said Plasta employed 500 in manufacturing plants located in Lithuania and Sweden. The firm processes around 45,000 t/y of recycled post-consumer waste, from which it produces more than 36,000 t of refuse sacks and film products annually.

Related: European Recycling Industries’ Confederation publishes recycling roadmap

In a statement, Cedo said the deal strengthened its position as “the largest integrated circularity platform for flexible plastic films servicing Europe. 

“It also enhances our presence in Central and Eastern Europe, and Scandinavia, broadens further our access and assortment to the B2B channel, and expands our ability to innovate in the circular economy.”

Cedo claimed the addition of Plasta Group would increase its annual plastic waste recycling capacity to more than 200,000 t/y. Thierry Navarre, Cedo’s chief executive, said, “Plasta Group’s expertise and shared commitment to sustainability align perfectly with our vision. 

“This partnership strengthens our ability to lead the circular economy in our sector, delivering innovative solutions to our customers and driving a more sustainable future.”

Cedo employs approximately 2,000 staff and reports annual turnover of around EUR 500 mn.