Global group acquires Scottish biodiesel producer

John Swire and Sons (Green Investments) has acquired Scottish biodiesel producer Argent Energy.

The deal was closed for an unknown sum and will see Argent remain in private ownership and will continue to operate independently.

Argent Energy owns a commercial-scale biodiesel production plant, which began operating in Motherwell, Scotland in 2005.

Barnaby Swire of John Swire and Sons says: 'We are committed to exploring and investing in innovative and viable green industries. We believe Argent Energy can grow and prosper not only within the UK but also overseas, in particular in Asian markets with which Swire Group companies are familiar.'

Souter Investments are exiting the business after four years.