The preliminary agreement on the majority stake purchase of one of the largest manufacturers of tissue-based personal hygiene products in Poland Velvet CARE Sp. z o.o. was signed on 27th February 2018. The acquirer VLET Holdings S. a. r. l., a subsidiary of Abris CEE Mid-Market III LP fund managed by Abris Capital Partners signed the agreement with the current majorityshareholder – AVALLON fund. The transaction is subject to the standard approval procedure of the Poland's Office of Competition and Consumer Protection (UOKiK).
"The production of paper hygiene products is one of the fastest growing segments of the Polish paper market. Its value reaches about PLN 2.6 billion. We see very good prospects for domestic producers. Acquiring such an owner as Abris Capital Partners will enable Velvet to strengthen its market position outside of Poland and to appear on new foreign markets" – says Wojciech Perek, Director of the M&A department at Haitong Bank.
The key goal of Abris investment strategy is to transform the companies under its ownership into national and regional champions in their respective industries. The fund has the same ambition for Velvet CARE. The idea of this investment is grounded on the development potential of the particular company and the sector it operates in. Abris aims at making Velvet a market leader in the CEE region over the next couple of years.