The recovered paper and waste plastics trader Peute has changed hands. The Thai packaging group SCGP announced on Monday that it had completed the acquisition of 100 per cent of the Dutch recycling group for a purchase price of €78.19m. Peute was previously owned by Ewald Dudok, who also owns Dudok Real Estate. SCGP describes Peute as the Netherlands' largest independent packaging materials recycling and trading company handling both paper and plastic. "With solid operation and ability to continue business growth amid economic challenges in Europe, the company recorded revenue of €249m in 2021 with a profit of €3.2m and assets of €52m at the end of last year", the new owner reported.
Peute was founded in 1960 and currently employs more than 180 people, according to its own account. The company is based in Dordrecht, but plans to relocate to a larger, new site near the Alblasserdam container terminal in the Rotterdam East port area. The ceremonial driving of the first pile for the construction project took place in June. Outside the Netherlands, Peute has offices in Germany, France, Spain, Portugal, China and Indonesia.
SCGP said that the take-over enables it to access an additional one million tonnes of recovered paper a year, and described the transaction as an "important pillar of the company’s long-term strategy to strengthen all levels of [its] packaging business from raw material sources, upstream and downstream production through to the integrated packaging solutions". The take-over "also represents another crucial milestone in the company’s merger and partnership (M&P) plan", SCGP said....
