Investment fund buys Polish tissue paper producer

Photo: Velvet Care

Vlet Holdings, a subsidiary of Polish investment fund Abris Capital, has signed a deal to take over local tissue paper maker Velvet Care from investment fund Avallon.


Velvet Care currently employs more than 500, and operates a plant in Klucze, in Polands southern part. The amount of the deal was not disclosed, but Velvet Care said in a statement that, in the past 4.5 years, it invested close to PLN 250 million (60 million) in developing its capacities.


The latest transaction is subject to regulatory approval by Polands competition watchdog UOKiK.