SEATTLE (Recycling Monster): Luxembourg-based Ravago Group- the leading polymer recycling and distribution company announced acquisition of controlling interest in M. Holland Company and its subsidiaries. The transaction is expected to close later this year, subject to customary closing conditions, including regulatory approvals. The Holland family will continue to retain a significant stake in the company. The financial terms of the transaction were not disclosed.

According to M. Holland Co. website, it will continue to operate independently as a subsidiary of Ravago Group. The company’s existing management team will continue in their respective leadership roles.

The transaction is expected to further accelerate M. Holland’s growth strategy. It will provide the company with greater scale and resources, especially during this time when the plastics industry seems to be rapidly involving. The decision to join hands with Ravago was taken after an exhaustive review of various strategic options.

Jim Duffy, president and chief executive officer of Ravago Holdings America stated that the company is thrilled to welcome Ed Holland and his entire team to the Ravago Group family of companies