Valpak to be bought out by management and DSD owner Greenpoint

The members of the British packaging, battery and WEEE compliance scheme Valpak have approved the buy-out proposal tabled by its management. 91 per cent of its members voted on 26 January in favour of the move. Under the proposal, 70 per cent of Valpak will taken over by its management and 30 per cent by the company Greenpoint Holdings S.C.A based in Luxembourg, which also owns the German "green dot” packaging waste recovery scheme Duales System Deutschland (DSD). The Valpak members will each receive up to GBP 610, which represents 2.5m GBP in total.

Greenpoint had committed to investing up to GBP 2m for developing and diversifying Valpak’s services and products, the compliance scheme reported last week. Chairman Lord Deben (former Environment Secretary John Gummer), chief executive Steve Gough and finance director Philip Gale will continue to lead the business.