Hindustan Unilever Ltd (HUL), the country’s biggest consumer goods company, has approved a strategic investment to pick up a 14.3% equity holding in Lucro Plastecycle, a firm with expertise in recycling flexible plastic scrap. The business details of the transaction are not known.
The decision reflects HUL’s larger mission of sustainability, specifically in how it can enhance the circular economy in the field of plastic packaging. Through investment in Lucro, HUL seeks to augment its supply of recycled flexible plastics, a very important material for packaging, as well as infrastructures that will be able to scale up their use.
Lucro is known for its expertise in producing recycled flexible plastics that are reused for packaging applications. Through this collaboration, HUL seeks to improve plastic recyclability across its product lines and reduce dependence on virgin plastic content.
“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,” said Rohit Jawa, CEO and Managing Director of HUL.
The move comes as part of HUL’s wider environmental goals, including commitments to reduce plastic use, promote reuse, and increase post-consumer recycled content in its packaging.
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