Tomra enters into agreement to acquire Clynx

Norway-based Tomra has entered into an agreement to acquire the assets of C&C Consolidated Holdings LLC, which, through its subsidiaries, is a provider of bag drop solutions for the collection and processing of beverage containers in the U.S., operating under the Portland, Maine-based Clynx brand.  

The $45 million transaction is expected to close before the end of the third quarter.

Bag drop is a collection method whereby consumers can drop off entire bags of empty beverage containers at collection points and have their deposits refunded. It is a complement to reverse vending machines and redemption centers in North America, with strong growth potential, Tomra says. 

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“We are excited to welcome C&C into the Tomra family,” says Marius Fraurud, executive vice president at Tomra Collection. “This acquisition not only strengthens our position in the North American market but also enhances our ability to provide innovative and convenient recycling solutions to consumers. The integration of C&C’s bag drop technology with Tomra’s existing infrastructure will create significant synergies and drive additional growth. We look forward to leveraging C&C’s expertise to further our mission of leading the resource revolution.”

Founded in 2006, C&C primarily operates in the northeastern U.S., supplying retail stores with bag drop points and refunding customers their deposit through a digital platform. Collected bags are transported to material recovery facilities, where containers are counted and validated before refunding the deposit value.