Newspaper article The Evening Standard (London, England)

Biffa Bags Top Spot on the Bins with Hales Buy

Newspaper article The Evening Standard (London, England)

Biffa Bags Top Spot on the Bins with Hales Buy

Article excerpt

Byline: STEVE HAWKES

SEVERN Trent's waste business Biffa has snapped up rival Hales in a [pounds sterling]141 million deal that makes it market leader in the fast-changing world of skips and wheelie bins.

After months of wrangling over price with Hales' parent, the cement group RMC, Biffa has reached an agreement that will dramatically increase the size of its collection network and beef up its presence in London and East Anglia.

The deal will be a major boost to both parties. Profits at Biffa tumbled 9% last year in the tough economic climate. By selling Hales, RMC remains on track to cut debts to below [pounds sterling]1 billion by December.

Hales has been up for grabs since October. An RMC spokesman said: "In this environment, you either do a quick deal or a good deal. We have done a good deal."

Legislation to force firms to recycle and reuse more rubbish has fuelled a spate of acquisition activity in the waste market. …

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