AP Moller, an integrated transport and logistics company, agreed to acquire Faerch Group, a manufacturer of sustainable food packaging solutions, from Advent International, a private equity firm, for $2.4bn. "Today, a lot of plastics and other forms of waste end up in nature, landfills and incinerators, with far-reaching environmental implications. We would like to contribute to the critical societal development of a circular system of waste, with the same material being used and re-used in an endless number of manufacturing cycles. Faerch has demonstrated that it offers a compelling, sustainable solution, by developing food packaging products with a high degree of post-consumer recycled content," Robert M. Uggla, AP Moller CEO.