Preferred bidder for UK Deposit Return Scheme

Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the environmental, infrastructure and property sectors announces it has been named as the preferred bidder for a long-term contract providing logistics services for Re.Group on the UK Deposit Return Scheme (“DRS”), which has been announced today by Exchange for Change (“EfC”).

Hargreaves has been successful in achieving preferred bidder status for a long-term logistics contract with Re.Group, the Australian recycling and resource recovery company, to provide collection, transport and transfer station services for the DRS in Scotland. Hargreaves would be responsible for the collection and movement of returned drinks containers from retail return points across Scotland to designated processing facilities.

Re.Group has extensive Deposit Return Scheme (DRS) operations in Australia, and a DRS is due to be introduced across England, Scotland and Northern Ireland in October 2027. The scheme aims to reduce litter, increase recycling rates and support a circular economy by incentivising the return of single-use drinks containers.

The Group will now look to finalise contractual terms with Re.Group in the weeks ahead, with operations expected to commence in October 2027. Further details of the contract and its financial terms will be announced upon final signature of the contract.

Commenting on the preferred bidder status, Simon Hicks, Chief Executive of Hargreaves Services plc, said: “We are delighted to be announced as the preferred bidder on this project. The opportunity to partner with Re.Group on the UK Deposit Return Scheme is really positive for Hargreaves. It represents a significant step forward in the development of and recognition of our Environmental Services capabilities and positions us well for future opportunities across the UK. We look forward to finalising the contractual position in due course.”