Biffa plc - Acquisition
This announcement contains inside information
Acquisition of Simply Waste
Biffa plc ('Biffa'), the
For the year ending 31 March 2020, Simply Waste reported revenues of £32m, EBITDA of £5.2m, operating profit of
Simply Waste is a prominent, well-regarded operator in the south of
The acquisition is earnings accretive for Biffa from the outset and will deliver synergies from operational benefits. It is in line with both Biffa's stated investment strategy to grow its I&C operations, consolidating its leading position in this highly fragmented market, and its ambition as set out in its sustainability strategy to create the
"The acquisition of Simply Waste demonstrates further progress against our strategic plans. We have a clear focus to grow our Industrial and Commercial business through acquisitions as a natural consolidator within this fragmented market.
"We are delighted to welcome the Simply Waste team and their customers to Biffa. Simply Waste has an excellent reputation, complementing Biffa's existing footprint in the south of
"Simply Waste is a fast growing and innovative business with its people and customers at the heart of everything it does. I am delighted that the acquisition of Simply Waste by Biffa will build on these values and that the combined business will help deliver an even stronger and more efficient business. I am proud to have led this business from start up to exit and look forward to helping bring the businesses together."
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Cautionary statement regarding forward-looking statements
This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the Company's business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to them at this time, the actual outcome may be materially different owing to factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. Accordingly, no reliance may be placed on the figures contained in such forward-looking statements.
The forward-looking statements contained in this document speak only as of the date of this announcement, and Biffa does not undertake to update any forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Biffa has been at the forefront of the
For more information visit www.biffa.co.uk/investors
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