Food grade PET bottle recycler Evolve Polymers has been bought by US plastics recycling company Plastipak Packaging.
Plastipak Packaging is a global manufacturer of rigid plastic packaging as well as virgin and recycled plastic resin.
It is buying the business assets of Evolve Polymers, formerly known as Eco Plastics, which is based in Hemswell, Lincolnshire.
The site has the capacity to recycle 6-9 billion PET bottles into food-grade and other high quality material.
Contracts with Evolve’s existing business partners have been secured.
Plastipak Europe managing director Martin Hargreaves said: “Evolve’s prior owners invested significant resources to build the Hemswell site starting in 2006, and the business’s performance benefitted from continuous improvements.
“We currently operate plastic recycling operations in the US through our Clean Tech subsidiary, and in France and Luxembourg for our European customers.
“This acquisition complements our existing recycling businesses, and amplifies our ability to bring our world-class technologies and know-how to better serve our UK and Europe-based customers.”