Agilyx: GreenDot to acquire 50% of French packaging EPR company Léko, expanding its European recycling platform
Oslo, Norway, 5 November 2026 - Agilyx ASA (Euronext Oslo Børs: AGLX; Börse Frankfurt: 5NQ; US OTCQX: AGYXY) ("Agilyx" or the "Company") announces that GreenDot, its majority-owned holding, has entered into an agreement to acquire 50% of Valorie SAS, a fast-growing state-approved extended producer responsibility (EPR) recycling company in France owning 100% of Léko and Léko Pro. GreenDot will share joint ownership and control of Valorie with German environmental services company Reclay International. The transaction is funded from cash within the GreenDot Group and involves no cash outlay and no share issuance by Agilyx.
A fast-growing challenger in French recycling
Léko is one of two state-approved, non-profit household packaging EPR organizations in France, which receives (EPR) fees brands pay to fund municipal collection, sorting and recycling. Since its start in 2020, revenue has grown to EUR 42 million in 2025, with nearly 80% annual growth in the past two years. France generates approximately 4.5 million tonnes of plastic waste each year. In 2024, the French recycling rate for plastic packaging was only 27%, the third lowest in the EU, which averages 42%. France pays approximately EUR 1.6 billion per year to the EU related to its non-recycled plastic packaging waste and is working proactively to transform its plastic recycling sector.
Strategic rationale
The strategic expansion of GreenDot's European recycling platform is expected to create value through three channels: - Enhanced access to more and higher-quality mechanical recycling feedstock: Léko provides GreenDot's mechanical recycling operations with preferred access to more, higher-quality material, enhancing the platform's EU Packaging and Packaging Waste Regulation (PPWR)-driven growth. - One-stop-shop for Pan-European EPR compliance: Together, Léko and GreenDot can offer brands a one-stop shop for EPR compliance in Germany and France, access to GreenDot's Authorized Representative service, and access to the AI software solution GreenDot is developing with osapiens. - Cost savings with German EPR: Léko will leverage GreenDot's existing IT, digital tools and account teams, lowering costs in both France and Germany, particularly as Léko grows. GreenDot's ambition is to grow Léko toward a 10% share of the French household packaging recycling market, increasing the value of each of the above.
Laurent Auguste, CEO of GreenDot, said: "Léko's presence in the French waste plastic supply chain provides GreenDot a strategic opportunity to expand our access to waste plastic supply and advance our circular plastics offering to pan-European brands and retailers. Our teams have been working together for some time now, and I am excited about building Leko into a central player in the French recycling segment. "
Transaction terms
GreenDot will pay an initial consideration of EUR 4 million at closing. The agreement also provides for two potential milestone payments, dependent on Leko's revenue growth. Milestone payments are voided if the anticipated synergies are not achievable due to regulatory constraints. Total consideration, including milestone payments, is approximately 2-3 times GreenDot's projected annual EBITDA improvement and is capped at three times the initial consideration.
The acquisition is funded from cash within the GreenDot Group. There is no cash outlay and no share issuance by Agilyx. Léko will not be consolidated in GreenDot's accounts.
As part of the new ownership structure, GreenDot CEO Laurent Auguste will assume the role of Chairman of Valorie. The transaction was completed on November 5th 2026.
Further details are provided in the enclosed attachment.
About Agilyx Agilyx ASA is a leading global investment platform supporting the development of plastic waste feedstock supply to the recycling industry. Through its majority holding in GreenDot Global, Europe's largest waste plastic recycling platform, Agilyx has access to large volumes of post-use plastic and advanced sorting and recycling infrastructure in Austria, France, Germany, Italy, and Spain. Through arcLABS, Agilyx provides characterization and identification services for plastic streams that can be converted into feedstock matched to recycling processes. Agilyx also markets Styrenyx, its proprietary chemical recycling technology for polystyrene waste. By enabling the shift from a linear "make-take-waste" model to a circular economy, Agilyx helps solve the plastic waste crisis and supports the global transition to a low-carbon future. Inquiries: investors@agilyx.com Learn more at: www.agilyx.com and www.agilyx.com/arclabs For media resources, visit: https://www.agilyx.com/media-room/
About GreenDot GreenDot is dedicated to addressing the plastic waste crisis by developing solutions and assets that close the circularity loop of plastics through the production of high-quality recyclates, including from difficult-to-recycle waste streams. The group's portfolio spans both mechanical and chemical recycling, Extended Producer Responsibility (EPR) licensing services, as well as consulting on EPR systems and design-for-recycling. The foundation of the group was laid more than 35 years ago in Germany with Der Grüne Punkt, which created the world's first nationwide EPR program for household packaging, including hard-to-recycle plastics like flexible films. Since then, GreenDot has constantly expanded its business areas in order to serve all requirements of the circular economy for plastics. To date, GreenDot has a presence in Germany, Austria, Italy, France, as well as Spain, and continues to widen its global network. More information can be found at www.green-dot.com