Swiss-based global private equity firm Partners Group is to acquire Polish-headquartered tissue manufacturer Velvet Care from Abris Capital Partners.
Velvet Care is one of the largest manufacturers of hygiene tissue products in Central Europe.
The acquisition takes place after several years of growth, which has included announcing its third paper machine in five years as part of a PLN364m investment.
That is on the back of more than 60% production capacity increase to the business following the start-up of TM8, the plant’s second Valmet-supplied Advantage DCT line, in June 2022.
In 2020 Velvet Care also acquired Moracell, Czechia’s largest producer of toilet paper and paper towels, a move which opened up opportunities for the business in Czechia and Slovakia.
Velvet Care Chief Executive Artur Pielak said: “During the past five years Velvet CARE has grown stronger, going far beyond our initial ambitions.
“The management team and I can’t wait to begin working with Partners Group and continuing our mission of building a European leader in this sector.
“This is yet another era of new possibilities for us and we plan to accelerate our growth, actively participating in the further consolidation of the paper market and seeking opportunities to expand, including in Central Europe and beyond.”
Velvet Care’s products include toilet paper, paper towels, paper tissues and moist toilet paper.
Its Velvet brand has enjoyed great popularity in Poland for the past 26 years, and the company also produces for private labels.
Velvet CARE has two factories, in Klucze, Poland and Žabčice, Czechia, and sells its products on more than 30 markets, mainly in Europe.
