Lucart Group is understood to have placed the winning bid for Spain’s Grupo CEL Technologies & Systems SLU (CEL).
The move will boost the company’s AfH presence in Spain and Portugal and include the acquisition of the manufacturer and converter’s manufacturing assets.
The offer is for two tissue machines, the converting lines as well as the soap production line based in northern Spain, and is waiting to be approved by unions.
Lucart Group is pursuing a strategy for growth on the AfH market in Europe.
The company was unable to comment further at this time.