The flexible plastics packaging manufacturer Cedo has acquired the Italian polyethylene recycler Polimero Srl. Polimero's ultimate owner had been private equity investor Ara Partners via its portfolio company Repeats Group (Recycled PE At Scale). The transaction, announced on 30 March, marks Cedo's entry into the southern European recycling market and strengthens its position in the mechanical recycling of flexible plastics.
The transaction is the latest in a series of significant changes to the structure of the Repeats Group. Backed by Ara Partners, the recycling group made a number of acquisitions in 2022 as part of plans to establish a "Europe-wide platform" for the recycling of LDPE. In addition to Polimero, these included Daly Plastics in the Netherlands, RG Group in France and Anviplas in Spain. Daly Plastics became part of Repeats Northern Europe, which entered insolvency proceedings in March. The divestment of RG Group to Green Dot was also announced last month....
