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Tomra sells Calif. recycling arm for $25M

February 03, 2012 - 20:38 GMT Location: New York

KEYWORDS: Tomra , Tomra Pacific , rePlanet , Buff Investment Group , UBC recycling

Reverse vending machine maker Tomra Systems ASA has sold off its West Coast used beverage container (UBC) recycling arm for $25 million.

According to a statement from Lazard Middle Market, which advised Tomra on the divestment, rePlanet will be integrated into Buff Investment’s network of packaging manufacturers and will continue Tomra Pacific’s operations under the rePlanet name.

The sale made sense given the parent company’s different focus, Espen Gundersen, senior executive vice president and chief...

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