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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.