Agilyx to Acquire 44% Stake in GreenDot Global, Bolstering European Recycling Expansion

The Norway-based chemical recycling company Agilyx ASA has signed a binding and fully financed agreement to acquire a 44% stake in GreenDot Global S.à r.l., a leading circular plastics platform in Europe and the third-largest recycling company in Germany, according to a joint announcement. The move marks a major milestone for Agilyx as it scales up its presence in the European market and builds a global feedstock supply network for advanced plastic recycling.

As reported on Agilyx’s official site, the transaction values GreenDot at a post-money enterprise value of EUR197 million. Agilyx’s 44% equity investment amounts to EUR52 million, comprising approximately EUR32 million in newly issued Agilyx shares—priced at a 30-day volume-weighted average of 25.76 NOK per share—and EUR20 million in cash. The deal is fully financed through a subordinated loan facility provided by existing investors.

GreenDot, operating across 29 countries, is Europe’s most recognized recycling brand and currently processes over 1 million tons of packaging waste annually, including more than 400,000 tons of plastic. The company is actively expanding its advanced recycling feedstock operations through new sorting facilities in Austria and Italy. For fiscal year 2025, GreenDot is projected to generate approximately EUR400 million in revenue and achieve a double-digit EBITDA margin.

Agilyx CEO Ranjeet Bhatia commented, “We are thrilled to expand Agilyx’s reach into Europe as we build a global platform to supply feedstock to the plastic recycling industry. GreenDot is the recognized industry leader in Europe, has tremendous momentum in the fast-developing advanced recycling market, and is a great complement to Agilyx’s existing activities.”

GreenDot CEO Laurent Auguste also expressed optimism, stating that the partnership will strengthen both firms’ ability to support brand owners and stakeholders in the plastic packaging value chain. “The new capital injection will support expansion of facilities in Germany, Austria, and Italy and is additional evidence of GreenDot’s commitment to scaling the circular economy of plastic in Europe,” he said.

The transaction remains subject to several closing conditions, including regulatory approval under Germany’s foreign direct investment laws, lender consent, and approval from Agilyx shareholders at an Extraordinary General Meeting (EGM), expected in Q3 2025. Agilyx has reportedly secured sufficient voting undertakings to pass the resolution.

Source: Agilyx