Emirates Reem Investments Company (ERC) has acquired 100% of Evergreen Plastic Products Manufacturing LLC for AED 44 million ($12 million).

Dubai-based Evergreen started commercial production in 2000 producing water and beverage packaging.

ERC was formerly principally a bottled water and soft drink bottling company named Emirates Refreshments Company, before it rebranded in late 2020, and announced its new focus on sectors such as real estate investment, mining, healthcare and farming as well as broader investment activities.

(Writing by Imogen Lillywhite; editing by Seban Scaria)