Saica Group has reached an agreement to acquire the majority of the shares (76%) of Fox Recykling, a waste management company in Poland.
Thanks to this acquisition, Saica strengthens its growth strategy in Eastern Europe and expands the footprint of one of its business divisions: Saica Natur.
“This milestone is a step forward in Saica´s business growth strategy, not only by continuing our expansion into the Polish market with Saica Natur but also with the aim of further developing our infrastructures and services in this market” said Ramón Alejandro, President, Saica Group.
This acquisition is part of the development plans of the company defined by Saica 2025, the strategic plan of the company. Fox Recykling is a well-established waste management company in the north of Poland, with more than 30 years of experience in the business and a solid portfolio of more than 400 customers in the region.
Back in 2011, Saica Group entered the Polish market through a joint venture with Thimm Group, acquiring a corrugated board plant in Tychy, named TOP THIMM (Thimm Group with 51% of shares and Saica Group with 49% of shares). This new operation is an opportunity to increase Saica’s value proposition in waste management services in the European eastern market. It allows Saica to develop its waste management services while offering a wide range of services to new customers in the Polish market.
Fox Recykling is comprised of 34 employees. Last year, it managed about 45,000 tonnes of waste and the turnover was about €9m. Fox Recykling is located in Gdynia, a city in northern Poland as well as seaport on the Baltic Sea coast.