Tibbett & Britten enters reverse logistics market
Tibbett & Britten Group plc said it has completed the acquisition of German reverse logistics company Vfw AG, the first step in the British company's plan to expand into returned goods management in Europe.
Cologne-based Vfw generated $35.4 million in revenue in 2002 as a lead logistics manager for 1,500 customers, including Toshiba, Bayer, Compaq, Johnson & Johnson and Kodak.
Vfw specializes the collection and recycling of retail and pharmacy packaging material and returnable drink containers. The market for such returns is significant due to strict environmental regulations requiring companies to reuse and recycle products. Vfw subcontractors pick up returned materials dropped off by consumers at the point of sale.