In 2018, VLET Holdings S. a. r. l. (a subsidiary of Abris CEE Mid-Market Fund III LP, managed by Abris Capital Partners Ltd.) acquired a majority stake in Velvet CARE Sp. z o.o.
With the introduction of the new owner, another five-year development plan was launched as part of the Velvet CARE 2025 Strategy. Its objective is once again to double the turnover, introduce Velvet CARE to the group of companies with a turnover exceeding PLN 1 billion and achieve the position of a leader across the entire Central and Eastern Europe.
The central element of this plan was the acquisition of 100% of the shares of MORACELL, the largest producer of paper hygiene products in the Czech Republic – which took place in March 2020.
In April 2020, Velvet CARE specialists in Klucze independently commissioned another state-of-the-art toilet paper making machine. With machines of this type typically installed by the manufacturer, this was a remarkable achievement. The circumstances related to the COVID-19 crisis made the arrival of the manufacturer’s installation team impossible. Currently, another Facial tissue production line is being installed.