Abris acquires Velvet CARE, the leader in Tissue products in Poland
The transaction remains subject to the standard approval procedure of Poland's Office of Competition and Consumer Protection (UOKiK).
Velvet CARE is Poland’s leading manufacture of brand-name, tissue-based personal care products (including hand tissues, toilet paper and kitchen paper towels) and the owner of the highly-regarded ‘Velvet’ brand in Poland. Velvet CARE has more than 20 years of successful operation, with brand recognition among Poles recorded at an impressive 96%.
Paweł Gieryński, a Managing Partner of Abris remarked: “Our strategy at Abris is to transform the companies under our ownership into national and regional champions in their respective industries. We have the same ambition for Velvet CARE and propose to achieve that objective through a combination of organic growth and selective acquisitions. The company has recently completed a major capital expenditure program which has substantially increased its production capacity; we will continue this program while we seek to acquire other attractive, related businesses in the region.”
Artur Pielak, CEO of Velvet CARE added: “For many years the Velvet brand has been the leader on the Polish market. Being a modern and successful organization, the company is enjoying sustained popularity among consumers and synonymous with the highest quality of paper-based, personal hygiene products. We are delighted that we will be able to continue pursuing Velvet Care’s strategic development in Poland whilst gradually building our position in export markets with the backing and experience offered by Abris.”