Danish plastic packaging supplier Færch Plast has announced plans to acquire 4PET Group. This will enable the company to achieve a circular economy model for manufacturing PET food trays.
“For years, Færch Plast has been promoting sustainability, and all of our products are designed for recyclability. The acquisition of 4PET Group is an outstanding opportunity for us to close the loop and a leapfrog in terms of sustainability.
“With the modern infrastructure in place at 4PET to sort and process disposed plastic trays, we are able to transform used trays into raw material for new food contact products,” said Færch Plast Group’s CEO, Lars Gade Hansen.
He said that the acquisition of 4PET would allow Færch Plast to “take responsibility for the post-consumer phase of our trays”.
4PET Group produces PET sheets and food contact quality recycling. It has 200 employees across four sites and a turnover in excess of 50 million euros in 2017.
Commenting on the new opportunities ahead, Jean-Loup van de Wiele, joint founder and CEO at 4PET Group said: “For many years, we have offered ‘bottle-to-bottle’ solutions, while witnessing the vast growth of the PET tray market.
“We are very excited that we are among the first to offer an industrial ‘tray-to-tray’ solution. With our bespoke technology, we recycle and process PET of any colour including black packaging.”
The deal is subject to regulatory review and, if approved, should be finalized in Q3.