Hindustan Unilever (HUL) has announced its acquisition of a 14.3% stake in Lucro Plastecycle, a company specializing in recycled flexible plastics, as part of its commitment to sustainability and circular economy initiatives.
Lucro is a waste management, recycling, and product manufacturing company dedicated to building a circular plastics economy, aligning with the Indian government’s vision for a zero plastic waste future, HUL said in a statement.
“This investment is a significant step in building 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,” said Rohit Jawa, CEO and Managing Director of HUL.
Lucro’s Managing Director, Ujwal Desai, welcomed the partnership, stating, “At Lucro, we turn the challenge of recycling post-consumer flexible plastics into an opportunity to create high-quality recycled plastics. HUL’s investment will enable us to expand our recycling capacity, promote large-scale adoption of post-consumer resin, and set a new benchmark for sustainable plastic solutions.”
The move underscores HUL’s broader goal of integrating more recycled content into its packaging, reinforcing its efforts to reduce plastic waste and promote environmental responsibility.