UK-based independent tissue converter Accrol Group Holdings has completed the acquisition of Leicester Tissue Company (LTC).
It is the first acquisition made by the company and takes its share of the £1.7bn UK tissue market to c.16%.
Dan Wright, Executive Chairman of Accrol, said: “LTC fulfils all our selective M&A criteria. It’s well-invested; it’s ideally located in central England, it has a strong day-to-day management team, and its product mix and customer base are highly complementary to our existing business.
“Importantly, it represents another milestone on our journey to build a world-class, operationally efficient business of size and scale, which delivers substantial returns to shareholders through organic and acquisitive growth.”
Accrol Group Holdings is based in Lancashire where it converts and supplies toilet tissues, kitchen rolls and facial tissues to discounters and grocery retailers throughout the UK.
It has four sites: a manufacturing and distribution site, a storage and administrative centre, and a facial tissue plant, all located in Blackburn, and a manufacturing and distribution facility in Leyland.