Hindustan Unilever Limited (HUL), a consumer goods company in India, is set to acquire a 14.3% stake in Lucro Plastecycle, a company focused on flexible plastics.
The acquisition was approved by the HUL board of directors to help enhance the circular economy for flexible plastics.
Lucro Plastecycle operates as an integrated entity focused on waste management, recycling, and manufacturing.
The company says it is committed to addressing plastic waste and improving recycling systems within the sector.
HUL’s investment represents a key step in its broader sustainability efforts, particularly aimed at expanding the use of recycled materials in flexible plastic packaging.
The move also aims to tackle the ongoing challenge of recycling hard-to-recycle flexible plastics.
HUL managing director and CEO Rohit Jawa said: “This investment is a significant step in building the capabilities in recycling and developing the circular economy model for plastic, which is in line with our firm belief that what is good for India is good for HUL.”
Additionally, this initiative supports the Indian government’s vision of achieving a plastic waste-free future.
Lucro managing director Ujwal Desai said: “At Lucro, we turn the challenge of recycling post-consumer flexible plastics into an opportunity to create high-quality, recycled plastics while driving the circular economy.
“This investment by HUL paves the way for increasing our recycling capacity, driving large-scale commercial adoption of post-consumer resin and setting a new benchmark for sustainable plastics.”
