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Reconomy expands compliance division with Envirokey acquisition

Reconomy has today (22 November) announced the acquisition of Envirokey, which includes the packaging compliance scheme Smart Comply and the PRN brokerage firm Envirovert. 

Reconomy has been a big player in the compliance division since acquiring Valpak in 2018

Both will sit as “sister brands” alongside Valpak as part of Reconomy’s comply proposition in the UK, which offers customers environmental compliance, data management, deposit returns and sustainability consultancy services.

Guy Wakeley, chief executive of Reconomy, said: “We are delighted to welcome our new Envirokey customers and colleagues to Reconomy. Extended Producer Responsibility schemes are an important part of the UK’s recycling strategy and helping brands and retailers comply with their obligations is a central part of our growth strategy. The Smart Comply and Envirovert brands and services are complementary additions to our existing Comply offer, bringing deep experience particularly in the management of Packaging Recovery Notes.”

Reconomy

Reconomy recorded revenues of over £1 billion through FY 2022 across its 30 offices worldwide and is one of the UK’s largest and fastest-growing businesses operating in the circular economy, waste management and sustainability sectors.

It has pursued an aggressive acquisition strategy in recent years. In 2018, it acquired Valpak, one of the largest producer compliance scheme.

Its compliance arm also spreads across Europe. Earlier this year, it created ‘Comply Loop’, a “global compliance solution” made up of Valpak, RLG and Noventiz (see letsrecycle.com story).

This will enable Reconomy to become a strong player in the compliance field, as more companies seek compliance solutions with extended producer responsibility schemes being introduced across the world.

Danny O’Connor, managing director of Envirokey, added: “This is a very exciting time for everyone at Smart Comply and Envirovert. This transaction will allow us to move to our next stage of development, bringing further investment to our business and broadening the range of services we are able to offer our customers through Reconomy’s wider expertise.”

On its website, Smart Comply says it has nearly 30 years of experience within the recycling industry and have been working under the Producer Responsibility Obligations (Packaging Waste) Regulations since their inception in 1997.

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