The Board of Directors of Hindustan Unilever Limited (HUL) at its meeting today approved the investment for acquiring 14.3% stake in Lucro Plastecycle Private Limited (Lucro), a leading player in recycled flexible plastics. It is a well-integrated waste management, recycling and product manufacturing company, working to create a circular plastics economy for a better tomorrow.
HUL’s investment is a step forward towards its sustainability goals to scale up the use of recycled flexible plastic content in packaging, in line with the Government’s vision of zero plastic waste future. The investment aims to 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.
Rohit Jawa, HUL CEO and MD, 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, Lucro, said, "At Lucro, we turn the challenge of recycling post-consumer 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."