MUMBAI: Hindustan Unilever Ltd (HUL) is putting its money where its sustainability pledge is, snapping up a 14.3 per cent stake in Lucro Plastecycle, a rising star in recycled flexible plastics. The deal, approved by HUL’s board today, marks a fresh push towards a zero plastic waste future.

Lucro isn’t just in the business of recycling—it’s on a mission to turn trash into cash by converting post-consumer flexible plastics into high-quality recycled material. The tieup with HUL aims to boost the supply of recycled content for packaging, giving businesses a clearer path to sustainability and tackling the challenge of hard-to-recycle plastics.

“This investment is a significant step in building the capabilities in recycling and developing the circular economy model for plastic, which is in line with our firm belief that what is good for India is good for HUL,” said  HUL CEO & MD  Rohit Jawa.

Lucro managing director  Ujwal Desai said the deal will help ramp up recycling capacity and drive large-scale commercial adoption of post-consumer resin. “This investment by HUL paves the way for us to set a new benchmark for sustainable plastics," he said.

HUL, India’s biggest FMCG player, already reaches nine out of ten Indian households—and now, it wants to clean up the planet while it's at it.