Private equity company Abris has acquired Velvet CARE, the largest manufacturer of tissue hygiene consumer products in Poland.
The transaction has been approved by Poland's Office of Competition and Consumer Protection.
Velvet CAREis Poland's leading manufacturer of brand-name, paper-based personal care products (including tissue, toilet paper and kitchen paper towels) and the owner of the highly-regarded 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. In that year the Paper Mill in Klucze was established and the company's main manufacturing facility has been located there for over 120 years. The Velvet name, the brand underpinning its paper-based hygiene products, was launched in 1997 on the 100th anniversary of establishing the company.
Since its inception in 2007, Abris has secured cumulative commitments of approximately €1.3 billion from investors, all targeted at mid-market opportunities in CEE.
