Oct 10, 2012. /Lesprom Network/. Pennon Group's subsidiary, Viridor Waste Management Limited, has acquired Pulp Friction Limited, a paper collection and processing business based in Erith, Kent, and the business, assets and goodwill of a related business, SBS Paper LLP, for a total consideration of GBP 9 million ($14.4 million). The acquired business processes around 100,000 tonnes of paper and card per annum, as the company said in the press release received by Lesprom Network. Commenting on the acquisition, Colin Drummond, CEO of Viridor said: "The acquisition of this paper collection and processing business is in line with the Group's strategy of expanding its waste management activities, particularly in collection and recycling. The acquisition is expected to be earnings enhancing in its first full year of operation." Pulp Friction was established in 1995. It has a growing customer base across the UK and is now one of the country’s leading paper merchants.