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Cumbria Times
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9:01 AM 25th February 2021
business

Biffa Acquires Company Shop Group In £82.5m Deal

 
Biffa plc has announced a significant strategic step in its commitment to the circular economy with the acquisition of Company Shop Limited for an upfront enterprise value of £82.5m.

CSG is the UK's largest redistributor of surplus food and household products. It prevents waste by identifying surplus produce and then collecting, processing and redistributing it for sale through its unique network of membership-based outlets.


Michael Topham
Michael Topham
Michael Topham, Chief Executive of Biffa plc, commented: "The acquisition of Company Shop Group strengthens Biffa's leadership position in the UK circular economy. Its redistribution services complement Biffa's established waste and recycling services, and supply of closed loop recycled raw materials. As the only commercial redistributor of scale in the UK, Company Shop Group is the market-leader in a growing sector, with a strong, credible growth plan which we will deliver together. Biffa and Company Shop Group share a common set of goals, including the continued development of profitable, sustainable waste management solutions while making a meaningful contribution to society. We welcome all of Company Shop Group's members, partners and staff to Biffa and look forward to the next stage of the business' development."

Steph McGinty, Group Managing Director of Company Shop Group, commented:

"We are proud to be the UK's leading redistributor of surplus food and household products. We are a passionate business working for our industry, our colleagues, our members and our communities; we call it Corporate Surplus Responsibility.
Hallmarked by long-standing and powerful partnerships, at the heart of our business is the understanding that big challenges need big solutions, and these are always better delivered in partnership. Together, as part of Biffa plc and aligned in vision and purpose, we will continue to innovate and grow, enabling us to provide even more sustainable solutions for all our stakeholders. I am delighted to lead Company Shop Group in this exciting new chapter of its journey."

Christian Mayo
Christian Mayo
Company Shop was advised by a multi-disciplinary KPMG team. Christian Mayo, who leads the firm’s Corporate Finance practice in Yorkshire commented on the deal:
“Company Shop has led the way in reducing food waste in the UK. Its acquisition by Biffa creates a unique proposition in the waste management industry, adding redistribution to Biffa’s existing capabilities, helping it to play a greater role in the sustainability agenda.”

Company Shop was also advised by Walker Morris and CIL.