Romanian holding company GreenGroup, the owner of the largest integrated recycling park in South-Eastern Europe, has fully bought UAB Zalvaris, the largest industrial waste management company in Lithuania.

The deal is part of GreenGroup's EUR 200 mln investment plan aimed at consolidating its position as the largest integrated recycling group in Central Europe through organic growth and takeovers, Ziarul Financiar reported.

GreenGroup has been controlled since 2016 by the private investment fund manager Abris while the other significant owner – Romcarbon Buzau – sold its 17.6% stake for EUR 14.2 mln in 2023, according to Profit.ro.

Taking over the Lithuanian firm strengthens GreenGroup's position in the industrial waste management market after the company decided in 2020 to take a step towards this sector by acquiring Romanian company Eltex.

Zalvaris is the seventh acquisition of GreenGroup since it was taken over by Abris and the third add-on in the last nine months, after the acquisitions of SIGAD, a Romanian developer of software for environmental reporting, and UAB Ecso, a Lithuanian polyethene recycling company, marking its entry into the polyolefin market.

iulian@romania-insider.com

(Photo source: Green-group-europe.com)