Pennon bags Kent-based paper company

Pennon, the FTSE 100 water services and waste management group, has acquired Pulp Friction, a paper collection and processing business based in Erith, Kent.

Pennon, the FTSE 100 water services and waste management group, has acquired Pulp Friction, a paper collection and processing business based in Erith, Kent.

The acquisition, made through Pennon's subsidiary Viridor, relates to the Pulp Friction business, assets and goodwill of a related business (SBS Paper) for a total consideration of £9.0m (£8.6m cash plus acquired net debt).

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