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Viridor Waste Management, a Somerset-based subsidiary of Pennon Group Plc, has acquired London Recycling for £11 million in cash.

London Recycling offers a range of recycling, waste management and security shredding services. The company handles approximately 50,000 tonnes of material per year.

Colin Drummond, chief executive of Viridor, said: "The UK's waste strategies demand ever-increasing levels of recycling. London Recycling has had an excellent track record over recent years in providing essential recycling services to businesses in the Capital."

Drummond added: "The acquisition has an excellent geographic and business fit with our operations in the South East of England and is expected to be earnings enhancing before amortisation of intangibles in its first full year."

Viridor reported an increase in revenues of 15 per cent to £522.7 million, with pre-tax profits up 13 per cent to £65.5 million.

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