Biffa said this acquisition is a significant strategic step in its commitment to the circular economy
() announced it has acquired Company Shop Group, the UK’s largest redistributor of surplus food and household products, for £82.5mln.
The firm prevents waste by identifying surplus produce and then collecting, processing and redistributing it for sale through a network of membership-based outlets.
Surplus produce includes production overruns, trial products or produce that has been incorrectly labelled or packaged, which would otherwise become waste.
Biffa said that Company Shop Group is the only commercial redistributor of scale in the UK.
The waste management company added that this acquisition is a significant strategic step in its commitment to the circular economy, while there will be growth opportunities with increasing regulatory, social and environmental tailwinds.
Shares rose 2% to 250p early on Thursday.
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