The Sterling Group Forms Evergreen Platform by Acquiring CarbonLITE's Riverside PET Facility
June 1, 2021
The Sterling Group executed a carve-out of Evergreen (the PET recycling division of Greenbridge Packaging) and merged it with the Riverside, California assets of CarbonLITE acquired through a 363 bankruptcy process to form a national PET recycling platform, Evergreen. The deal gives Evergreen a West Coast presence and increases food-grade rPET manufacturing capacity, with the Riverside facility measuring 220,000 square feet and an estimated annual capacity of more than 100 million pounds of rPET.
- Buyers
- Evergreen (Greenbridge division), The Sterling Group
- Targets
- CarbonLITE (Riverside PET recycling facility)
- Sellers
- CarbonLITE, Greenbridge Packaging
- Platforms
- Evergreen
- Industry
- Environmental Services
- Location
- California, United States
- Transaction Type
- Addon
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