Abris-backed Velvet CARE snaps up Almus

Abris has previously invested in Pehart, a tissue paper producer in Romania.

  • Almus manufactures toilet paper and kitchen towels
  • Abris acquired Velvet CARE in May 2018
  • Velvet CARE manufactures paper-based personal care products

Abris Capital Partners portfolio company Velvet CARE acquired Almus, a Polish family-owned tissue converting business.

Słomniki-based Almus manufactures toilet paper and kitchen towels, offering products to branded and private label categories. The company has five converting lines with a total capacity of 70,000 tonnes annually.

Abris acquired Klucze, Poland-headquartered Velvet CARE in 2018. Under Abris’ ownership, Velvet CARE has focused on production efficiency, flexibility and automation, and improving its competitive positioning across all product categories, according to Abris.

The investment builds Abris’ track record in the sector, as in 2015, the firm invested in Pehart, a tissue paper producer based in Dej, Romania.

“This investment is the next step in Velvet CARE’s ambitious consolidation of the regional market,” said Tomasz Kujawa, investment director at Abris Capital Partners. “Under the exceptional management of the Velvet CARE team, the acquisition of Almus will generate numerous synergies and further cement the company’s position as a regional champion in terms of quality, efficiency and ESG integration.”

Warsaw-based Abris Capital Partners is an independent private equity firm that invests in Central Europe.