Environmental services operator Reconomy is pursuing its international development strategy with a new acquisition in Germany.
The Shropshire-based company has announced an agreement to purchase Reverse Logistics Group (RLG).
RLG, based in Munich, is a provider of end-to-end solutions for returns management and environmental compliance to businesses in more than 80 countries, helping customers deal with the increasing environmental, regulatory, and logistical demands facing businesses today.
The company’s 2020 turnover is forecast to be greater than €170 million, which when combined with the existing Reconomy Group, would take pro forma 2020 revenues above £465 million.
This is the second overseas acquisition for the Reconomy Group – it announced its purchase of Cologne-based Noventiz in October.
The acquisition also adds a new capability to the Reconomy Group and its clients, one specialising in reverse logistics. This proposition 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.
Paul Cox, Reconomy CEO, said: “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.”
Patrick Wiedemann, RLG’s CEO, 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. 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.”
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