Schwarz Group acquires Austrian recycling specialist | Progresiv
Germany’s Schwarz Group has made a significant step in its sustainability efforts by buying Austria’s Sky Plastic Group through its Greencycle subsidiary. The company processes plastic waste from bales and flakes and produces new usable material. The price has not been disclosed, but industry experts estimate Sky Plastic to be worth in the region of 30-40 million euros. 
Greencycle is charged with waste disposal at Lidl and Kaufland as well as production facilities for both banners. The acquisition of Sky Plastic will enhance the company’s ability to control its closed-loop manufacturing system and maximise efficiencies in how it manages and monetises excess waste. In 2018, the company bought into Germany’s #5 private waste disposal company Tönsmeier (since renamed Prezero) as part of its drive to introduce recycling to its vertically integrated supply chain. (www.kantarretailiq.com)
