Radius Recycling to be acquired by Toyota Tsusho America
On March 13, 2025, Radius Recycling, Inc. ("Radius") announced that it had entered into a definitive merger agreement with Toyota Tsusho America, Inc. ("TAI"), a U.S. subsidiary of Toyota Tsusho Corporation. The transaction is valued at approximately US $1.34 billion enterprise value and brings together two companies committed to advancing the circular economy by enhancing recycling efforts and reducing waste across the industrial, manufacturing, and retail sectors. The transaction is expected to close in the second half of 2025, subject to customary closing conditions, including approval by Radius shareholders and receipt of regulatory approvals.
Radius, based in Portland, Oregon, is a leading North America recycler of ferrous and non-ferrous metals with 54 operating facilities across 25 U.S. states, Puerto Rico and Western Canada.
TAI, based in Nagoya and Tokyo, Japan, is the global trading company of the Toyota Group and has 8 mission-based sales divisions (Metal + (Plus)/ Circular Economy/ Supply Chain/ Mobility/ Green Infrastructure/ Digital Solutions/ Lifestyle/ Africa).
McCarthy Tétrault is advising Radius as Canadian counsel with a team led by Claire Sung that includes Geena Lee (Business), Jeremy Ho, Fred Purkey, Colton Dennis (Tax), Kelleher Lynch (Benefits), Donovan Plomp, Lauren Soubolsky (Labour and Employment), Kimberly J. Howard, Selina Lee-Andersen (Environmental), Patrick Beechinor (Real Property), Martha Harrison (International Trade), Jade Buchanan (Privacy), Kevan Hanowski, Lindsay Frame (Litigation), Casey Halladay, Gideon Kwinter (Competition/ Antitrust).
