SCG Packaging, a Bangkok-based packaging provider, has acquired Peute, a Dutch company that recycles and trades packaging material, for €78.19M.
SCG Packaging purchased 100 per cent stakes in Peute through SCGP Solutions (Singapore), which is a wholly owned subsidiary of SCGP, the company announced on Monday.
The acquisition is in line with SCG Packaging’s long-term strategy to strengthen all levels of packaging business – from raw material sources, upstream and downstream production through to the integrated packaging solutions.
Furthermore, Peute’s expertise in advanced waste management and related technologies would help strengthen SCGP’s efficiency in packaging materials recycling operations in ASEAN.
Peute: What you need to know
Based out of Dordrecht, The Netherlands, Peute Group is an independent recycling company that specialises in paper and plastic processing. Founded in 1960, the company witnessed a record revenue of €249M in 2021, with a profit of €3.2M and assets of €52M.
Peute can source 1M tonnes per year of recovered paper (RCP) and 0.1M tonnes per year of recovered plastics at their facility in Dordrecht.
The sustainable-focused company is currently in the process of relocating the facility to Alblasserdam, nearby Rotterdam port, to double the sourcing capacity and improve cost management efficiency.
SCG Packaging: What you need to know
SCG Packaging is an industrial company that focuses on offering packaging services and solutions.
SCG provides products that include fibre-based packaging, performance and polymer packaging (PPP), and food service products, as well as designing and printing services and other diverse solutions.
Currently, SCGP’s annual usage of recovered paper reaches 4.4M tons and is expected to increase along with the expansion of packaging paper capacity, says the company.
The acquisition will boost SCGP’s competitiveness in terms of recovered paper sourcing networks; through owned recycling stations, direct collection from primary sources and local suppliers, as well as diversified import sources from the USA, Europe, Japan, and Oceania.
Currently, the Company operates 56 manufacturing facilities in Thailand, Vietnam, Indonesia, the Philippines, Malaysia, the UK, and Spain.
