GreenDot Acquires Italian Recycled HDPE/PP Compounder Forplast

On December 9, Specialized Plastic World learned that GreenDot has recently acquired an 80% stake in the Italian company Forplast, with the specific amount undisclosed. Forplast is a specialized company in recycled high-density polyethylene and polypropylene blends. According to Agilyx, a major shareholder of GreenDot, this all-cash transaction includes an advance payment made in 2023 and a final payment at closing.

Agilyx announced on December 8 that GreenDot expects Forplast to achieve positive EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) by 2026 and to exceed annual revenue of 50 million euros by 2030.

"This transaction consolidates GreenDot's leading position in the mechanical recycling of post-consumer plastic packaging waste and enhances its ability to reprocess high-quality recycled materials into high-value plastic end products, with a focus on bottle-to-bottle recycling and pipe manufacturing sectors," said Agilyx. "After the integration, Forplast will gain access to more waste plastic raw material supplies, and provide GreenDot with market-leading technical expertise to improve the product quality and profit margins of existing mechanical recycling facilities."

In October this year, Agilyx completed the acquisition of a 44% stake in GreenDot for 52 million euros.