Growing

Abris Capital acquires a majority stake in the Polish company, Velvet Care

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Abris Capital Partnershttp://www.abris-capital.com/ continues its growth path in the tissue sector in central and eastern Europe. After acquiring the Pehart Tec group in Romania in 2015, the private equity company announces a new investment in Poland. Through its subsidiary Vlet Holdings, Abris Capital Partners has signed a preliminary agreement to purchase the majority shareholding in Velvet Care www.velvetcare.pl, Polish producer of paper and tissue paper products. Velvet Care is managed by the Avallon MBO fund. The corresponding agreement between Abris and Avallon was apparently signed at the end of last February. According to Abris, Avallon has invested almost 350 million Polish Zlotys in Velvet Care over the last 4 to 5 years, including the construction of a second tissue machine in the old Kimberly-Clark factory in Klucze. The new machine was commissioned on 2 March, bringing the total capacity of the factory to more than 100 thousand tonnes.