Biffa acquires Cory’s UK waste collection business
Biffa, one of the UK’s leading integrated waste management companies, has announced that it has reached an agreement to acquire Cory Environmental’s municipal, industrial and commercial collection business for £13.5 million.
For the year ended 31 December, 2015 Cory Environmental reported total revenues of around £34 million. The business employs a total of 800 people.
In relation to Cory’s municipal segment, Biffa will take on four major local authority contracts providing waste and recycling collection services in Cornwall, Lincoln, Rutland and Tunbridge Wells.
The Cornwall contract is one of the largest outsourced contracts in the UK covering street and beach cleansing as well as household waste and recycling services, Biffa said in a statement.
In relation to Cory’s industrial and commercial arm, Biffa will take over the provision of commercial waste collection and recycling services to an anticipated customer base of approximately 7,000, predominately in the South West and South East, offering compaction, exchange, confidential waste collection and other related specialist services.
Ian Wakelin, CEO of Biffa, said: “This is an important acquisition for us. We believe that it will significantly strengthen our positions in the UK I&C and Municipal market segments, in which we already hold the number one and number two positions respectively.
“This transaction provides further proof that Biffa is a natural consolidator in the industry, with the technology, scale, reputation and expertise to grow and build upon our market leading positions in the UK.
“We are delighted to welcome Cory Environmental Municipal Services (CEMS) to Biffa.”