24 May 2021 - acquisition
The waste management group Biffa has announced the acquisition of the Viridor Collections business and certain other recycling assets. This acquisition for £126m expands Biffa's collections business and recycling capabilities whilst consolidating its leading position in UK sustainable waste management. The acquisition is expected to be earnings enhancing immediately and there are expected to be synergies of at least £10m expected to be delivered within a 12 -18 month period from completion - this is not expected to happen until August at the earliest. We believe this acquisition strengthens the investment case and maintain our recommendation . . .
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