A contract has been signed for the sale of waste management company Greenstar’s collections, transfer and processing divisions business to Panda.
The transaction does not include the landfill power business, which will remain under Greenstar ownership. The merger also needs to be cleared by the Competition and Consumer Protection Commission.
Mark Burrows-Smith, CEO of Greenstar, said: “The consolidation of the waste management industry in Ireland has long been viewed as necessary and this transaction is consistent with the objectives set by the Greenstar board. The Greenstar board would like to reassure our employees, customers and other stakeholders that both the Greenstar Board and the Greenstar management team will be working closely with Panda to ensure a smooth transition for all concerned following completion. Until completion, the Greenstar business will continue as usual.”
Brian McCabe, CEO, Panda, commented: “The joining of Panda and Greenstar will create a leading Irish-owned and managed municipal and commercial waste collection, processing and recycling business in the country.
He continued: “This will enable the combined business to continue to innovate and to deliver better, faster and more competitive waste management and recycling services to both companies’ customers. We look forward to bringing together the talent from both organisations and to welcoming our new colleagues and customers.”