WasteCo Group Limited (NZX: WCO) has signed a conditional agreement to acquire the waste collection business of Bond Contracts Limited, for a total consideration of $8,775,000.
The business provides waste collection services and operates transfer stations in Southland under a contract with the Invercargill City Council, Southland District Council and Gore District Council.
The acquisition is subject to the approval of the WasteNet Councils and other conditions usual for a transaction of this nature, with settlement scheduled for 2 October 2023.
The acquisition will expand WasteCo's footprint in the South Island and create a leading waste management company in the region.
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