A LOCAL authority owned waste management firm has acquired a family-run rival in a deal set to create a £48 million group.

Yorwaste, which is owned by City of York Council and North Yorkshire County Council, has completed the purchase of Thirsk-based Todd Waste Management Group for an undisclosed sum.

The deal will see Todd’s 46 staff and 1,200 business customers join the Yorwaste portfolio, creating an enlarged group with more than 350 staff and a 4,000 plus customer base, increasing Yorwaste’s turnover to more than £48 million.

The deal was agreed after negotiations between Yorwaste and the family-run Todd Waste Management Group, which is led by managing director Richard Todd.

Yorwaste managing director Steve Barker said: “We are delighted to announce the acquisition of Todd Waste Management Group.

“It represents a significant expansion of Yorwaste as we consolidate our position as the premier waste management company in North Yorkshire and York.

“We look forward to welcoming our new members of staff and customers to the Yorwaste Group, as we join two great local businesses together. I can promise all customers that it will be business as usual.”

The acquisition of Todd Waste Management comes just two months after Yorwaste took over the management and operation of 20 household waste recycling centres on behalf of North Yorkshire County Council. The company will also shortly open its new, £3 million waste transfer station in York and recently invested £1.5 million on 11 new vehicles.

Mr Todd said: “I am pleased to have been able to agree this deal with Yorwaste, which is resulting in the merger of two great local businesses.

“Our staff and customers will become part of a company with an excellent reputation for providing highly efficient standards of service, and I would like to thank them for the support they have given me over the years.”

Mr Barker added: “In July, the Allerton Waste Recovery Park will begin commissioning and, from day one, in partnership with our major shareholder North Yorkshire County Council, Yorwaste will be the main supplier of waste to the site.

“The deal we have struck with Todd’s is significant because it means we will now be able to recycle or recover even more waste from businesses in North Yorkshire and York.”

Yorwaste was advised on the deal by York law firm Andrew Jackson Solicitors, while Kenneth Easby & Co accountants in Northallerton provided finance advice.