Paprec to acquire a 20% stake in Pizzorno Environnement for $36m.

Paprec, a French recycling firm, agreed to acquire a 20% stake in Pizzorno Environnement, a provider of integrated waste management solutions, for $36m. "Pizzorno Environnement is a historically family-owned waste management company, well established in South-Eastern France, where its head office is located, and also in the RhôneAlpes, Lorraine and Greater Paris regions. The objective of our holding is to support the Pizzorno-Devalle family that controls the company, and to expand the service offered to the company customers. We shall be a reference shareholder, working in the long term to build sustainable performance. Pizzorno Environnement remains independent of my own group, both in its strategy and in its application. The Petithuguenin family, that controls Paprec, salutes the progress made by Pizzorno Environnement and by its shareholder. Our family, through our holding, wishes to show our confidence in the future of Pizzorno Environnement, and in its management and personnel," Jean-Luc Petithuguenin, Paprec Chairman and Founder.