GreenDot buys 50% of French packaging EPR scheme Leko for EUR 4m upfront
GreenDot, the majority-owned recycling holding of Agilyx, has acquired 50% of Valorie SAS, owner of French household packaging EPR organisation Leko and Leko Pro, sharing control with German environmental services group Reclay International. GreenDot paid an initial EUR 4m (USD 4m) at closing on 5 November 2026; with two revenue-linked milestone payments, total consideration is capped at three times that amount, EUR 12m (USD 13m), funded from GreenDot Group cash with no Agilyx cash outlay or share issuance. GreenDot aims to grow Leko towards a 10% share of the French household packaging recycling market.
Why this mattersThe deal adds France to GreenDot's German EPR compliance business and gives its mechanical recycling operations preferred access to French plastic feedstock as PPWR lifts recycled-content demand.
- GreenDot acquired 50% of Valorie SAS, holding company of Leko and Leko Pro; the deal completed on 5 November 2026
- Initial consideration is EUR 4m (USD 4m); total consideration including two milestone payments is capped at EUR 12m (USD 13m)
- Reclay International holds the other 50% and shares joint control
- Leko's revenue grew to EUR 42m (USD 47m) in 2025, with nearly 80% annual growth over the past two years
- GreenDot aims to grow Leko toward a 10% share of the French household packaging recycling market
- Funded from GreenDot Group cash; Leko will not be consolidated in GreenDot's accounts