PHOENIX, Aug. 24, 2017 /PRNewswire/ -- Republic
Services, Inc. (NYSE: RSG) announced today that it has entered into
a definitive agreement to acquire ReCommunity Holdings II, Inc.,
the largest independent recycling-processing company in
the United States. ReCommunity's
assets and expertise will complement Republic's existing recycling
collection and processing operations, and will enable the Company
to meet its customers' growing demand for recycling in multiple
markets.
The acquisition involves 26 recycling centers in 14 states,
primarily in locations where Republic maintains a leading market
presence. Combined, these facilities recover approximately 1.6
million tons of recycled commodities annually. The transaction also
includes the assumption of multiple long-term municipal agreements
with processing fee-based structures, which aligns with Republic's
innovative recycling pricing model.
"We believe this transaction will enable us to meet growing
customer demand for recycling services, while achieving one of our
key sustainability goals," said Don
Slager, president and chief executive officer of Republic
Services. "Recycling continues to be one of the fastest growing
segments of the waste stream, and our focus remains on investing in
traditional recycling in select and prioritized markets where
customers have demonstrated both a demand and a willingness to pay
for recycling."
"Through the use of innovation and technology, ReCommunity has
developed state-of-the-art recycling processing capabilities in
select markets, enabling communities to recover valuable
commodities from the waste stream and achieve their sustainability
goals," said Dennis McGill,
ReCommunity's chief executive officer. "With this acquisition, we
are joining a company committed to the same environmental and
community ideals and will be able to deliver a broader range of
services to our customers."
As part of its Blue Planet™ sustainability platform,
Republic has a goal of adding an additional 150,000 tons or more
per year of recycling capacity by 2018. Republic currently operates
64 recycling centers nationwide which recover approximately 2.5
million tons of recycled commodities annually. To learn more about
Republic's sustainability leadership, go to:
https://www.republicservices.com/sustainability.
About Republic Services
Republic Services, Inc. is an
industry leader in U.S. recycling and non-hazardous solid waste.
Through its subsidiaries, Republic's collection companies,
recycling centers, transfer stations and landfills focus on
providing effective solutions to make proper waste disposal
effortless for its 14 million customers. We'll handle it from
here.TM, the brand's promise, lets customers know they
can count on Republic to provide a superior experience while
fostering a sustainable Blue Planet for future generations to
enjoy a cleaner, safer and healthier world.
For more information, visit the Republic Services website at
RepublicServices.com. "Like" Republic on Facebook at
www.facebook.com/RepublicServices and follow on Twitter
@RepublicService.
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SOURCE Republic Services, Inc.