WasteCo completes acquisition of Bond Contracts

WasteCo Group Limited has confirmed the completion of its acquisition of the waste collection business of Bond Contracts Limited.

The acquisition is being carried out by WasteCo's subsidiary, WasteCo NZ Limited.

Bond Contracts provides waste collection services and operates transfer stations in Southland under a contract with the WasteNet Councils.

WasteCo plans to engage with the WasteNet Councils and participate in future negotiations and tender opportunities beyond 2027.

The transfer of the contract to WasteCo NZ has been approved by the WasteNet Councils, and other conditions such as lease assignment and employee transfer have been satisfied.

The settlement of the $8.775 million acquisition is scheduled for October 2, 2023, with an effective date of September 30, 2023.

This acquisition will expand WasteCo's presence in the South Island and establish it as a leading waste management company in the region.