Dive Brief:
- Waste Management announced its acquisition of Deffenbaugh Disposal is complete.
- The waste and recycling giant was granted the required approvals necessary to finalize the sale.
- After divesting the operations as directed by the U.S. Department of Justice, Deffenbaugh produces around $176 million in indirect revenue.
Dive Insight:
Deffenbaugh’s assets include seven transfer stations, five hauling operations, a municipal solid waste landfill and one construction and demolition landfill. The acquisition will give Waste Management the opportunity to expand its services to other markets, such as Kansas City, where there is currently little of the hauler’s presence.
David P. Steiner, the President and CEO of Waste Management said, "The acquisition of Deffenbaugh assets aligns perfectly with our stated goal of driving shareholder value by maximizing our focus on our core business. It also achieves one other important objective: replacing a portion of the divested 2014 Wheelabrator earnings at an attractive price."
