Radius Recycling, Inc. announced that it has entered into a definitive merger agreement with Toyota Tsusho America, Inc., a U.S. subsidiary of Toyota Tsusho Corporation, under which TAI will acquire all shares of Radius for $30.00 per share in cash, representing an approximate 115% premium to Radius鈥� closing share price on March 12, 2025, and an approximate 102% premium over the 90-day volume-weighted average share price. Upon completion of the transaction, Radius will continue to operate from its current headquarters in Portland, Oregon with its teams, operating facilities, strategy, and brands retained. The transaction brings together two companies dedicated to advancing the circular economy by increasing recycling and reducing waste across the industrial, manufacturing, and retail sectors.
For more than a century, Radius has supplied recycled materials and products to customers in North America and around the world. Over this time, the Company has expanded its platform to include innovative metals recovery technologies, Third Party Recycling (3PR鈩�) services and solutions, Pick-N-Pull branded auto recycling and used parts retail stores, and the Cascade electric arc furnace and rolling mill in Oregon. TTC, an affiliate of the Toyota Group, is a prominent Japanese trading company headquartered in Nagoya and Tokyo with approximately $65 billion in global revenue and 70,000 employees worldwide. Like Radius, TTC is a proven leader in metals and automotive recycling and has a successful track record of acquisitions with meaningful investments in the growth and employees of those companies. This transaction will provide Radius with the opportunity to benefit from TTC鈥檚 financial strength, recycling technology, and experience in providing recycling services to the automotive sector.
鈥淲e are excited to have reached this agreement with TTC, which builds on our longstanding relationship and provides us with increased opportunities for our talented team, broader products and services for our suppliers, customers and communities, and an expanded platform for our more than 100 operating sites while delivering significant immediate value to our shareholders,鈥� said Tamara L. Lundgren, Radius鈥� Chairman and Chief Executive Officer. 鈥淟ike Radius, TTC is a proven leader in metals and automotive recycling services and solutions, and we look forward to enhancing and expanding our offerings as part of their larger organization while continuing to drive our strategy forward. I am grateful to the entire Radius team, whose hard work and determination have created a strong foundation for our Company, enabling us to embark on this next chapter in our history with TTC.鈥�
鈥淲e look forward to collaborating with Radius, whose position as one of North America鈥檚 leading recycling companies aligns with our efforts to holistically improve recycling across the supply chain,鈥� said Ichiro Kashitani, TTC鈥檚 President and Chief Executive Officer. 鈥淭ogether, we will strengthen, amplify and grow Radius鈥� robust networks and integrated operations, better positioning Radius to meet the rapidly increasing demand to improve recycling rates and value recovery and deliver long-term benefits to employees, customers, suppliers, and communities.鈥�