The acquisition reflect Viridor's ambition to "lead innovation in the plastics and recycling sector" and it will play a vital role in Viridor's commitment to plastic circularity by 2025.
The deal is now complete following talks which began in February of this year and involved an 'extraordinary' meeting where a new Quantafuel board has now been formed.
The board is now headed by Viridor’s CEO Kevin Bradshaw and CFO Nick Maddock. Terje Eiken has taken over as Quantafuel’s CEO and will lead the company’s integration with Viridor. The company will also be continuing their work towards a delisting of Quantafuel.
Kevin Bradshaw, Viridor CEO commented, "We are delighted that Viridor has become a majority stakeholder in Quantafuel. This acquisition is an important step on Viridor’s growth journey to build a truly circular plastics economy. We see the opportunity for many exciting future developments and together will help build a world where nothing goes to waste."