A management buyout of CVB Ecologistics’ paper mill in Raon L’etape in France has taken place.
While searching for acquisition candidates for the mill, Dutch recycling company CVB Ecologistics commercial director Richard Getkate expressed an interest in purchasing the mill.
He has been operating the plant since 2018 when CVB Ecologistics got the mill back up and running after it went into receivership in the same year.
Following discussions, it has now been agreed that Richard Getkate will take over all the shares in the RCR mill from 1 July and will run the mill at his own expense and risk.
CVB Ecologistics will retain exclusivity on supplying recovered paper to the mill until at least 2022, and Richard will remain with the company until the end of 2021 to transfer his tasks.