Hindustan Unilever to acquire 14.3 percent stake in Lucro to boost sustainable plastic packaging

Hindustan Unilever Limited (HUL) board of directors have approved the investment for acquiring 14.3 percent stake in Lucro Plastecycle Private Limited (Lucro), a leading player in recycled flexible plastics.

With this investment, HUL aims to scale up the use of recycled flexibles content in packaging to create a circular plastics economy in line with the Government of India’s vision of zero plastic waste future.

The investment is expected to further strengthen plastic circularity by increasing the availability of recycled content for flexibles, providing a roadmap for businesses to move towards sustainable plastic packaging and address the challenge of hard-to-recycle flexible plastic.

Commenting on the investment, Rohit Jawa, CEO managing director at HUL in a statement 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”

Ujwal Desai, managing director at Lucro added, “At Lucro, we turn the challenge of recycling postconsumer 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.”

Lucro Plastecycle is an integrated waste management, recycling, and product manufacturing company focused on advancing a circular plastics economy.