Poland’s largest manufacturer of tissue hygiene consumer products has been successfully acquired by private equity company Abris Capital Partners.
The transaction has been approved by Poland’s Office of Competition and Consumer Protection.
Velvet Care is a leading manufacturer of brand-name, paper-based personal care products (including tissues, toilet paper and kitchen paper towels) and the owner of the Velvet brand in Poland.
The change will facilitate further acceleration of the company’s rapid growth, including international expansion in the CEE region.
Velvet Care was established in August 2013, although its origins date from 1897.
Artur Pielak, chief executive of Velvet CARE, said: “One of the core principles hardwired into our company’s DNA is the drive to grow the business rapidly and deliver on ambitious goals. “For that reason, we appreciate the great accountability involved in selecting the business partners who will help us attain those goals.
“As we open a new chapter in the company’s history, this time with Abris Capital Partners as our new partner and with whom we share a similar approach to business, we are poised to pursue a path of international expansion by acquiring attractive entities in our region while also growing organically in Poland as well as on selected western European markets.”
In March 2018, Velvet Care started up a new 5.6m wide Valmet-supplied PM at its Klucze tissue mill.