Company Shop Ltd for an enterprise value of £82.5m.
CSG prevents waste by identifying surplus produce and then collecting, processing and redistributing it for sale through its unique network of membership-based outlets, with surplus produce including production overruns, trial products, or produce that has been incorrectly labelled or packaged.
CSG is the only commercial redistributor of scale in the UK, with “unrivalled operational capabilities and infrastructure which underpin its strong growth plans”.
The deal will leverage Biffa’s position as the UK’s leading sustainable waste management company, further improving its capability to support its customers’ waste reduction and recycling targets.
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Top story
Fruit and veg supplier Total Produce has agreed to combine with Dole Food Company to created the largest fresh producer in the world with revenues of almost $10bn (£7.2bn).
The two unified businesses will undergo an IPO in the US under the name Dole plc to raise up to $700m in new capital to strengthen the group’s balance sheet.
The combination is expected to deliver significant synergies of between $30m and $40m over the medium term thanks to sourcing and supply chain savings.
As a result of the increased footprint and brand strength of Dole plc, the new group expected to deepen market penetration, expand into attractive product categories and pursue acquisitions in the industry, according to documents filed on the London Stock Exchange this morning.