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The Management Board of Velvet CARE signs a preliminary share purchase agreement with ALMUS


Consistently pursuing the assumptions of the strategy and entering the 10th year of our company’s operation, we have the pleasure of informing you that on 22 December a preliminary agreement on purchase by Velvet CARE of 100% of shares in ALMUS was signed. The company is, similarly to ours, a manufacturer of products from the category of toilet paper and paper towels. Its seat is located in Słomniki in the Małopolska Province.

The share purchase transaction is currently being approved by the Polish Office of Competition and Consumer Protection (UOKiK). It is expected that the final decision will be made in this quarter.

After finalisation and merger of the companies, the Velvet CARE Group (currently consisting of Velvet CARE Sp. z o.o. and the Czech company Moracell) will increase the processing capacity by almost 40% to the level of approx. 250,000 tons annually, thus joining the group of employers with over 1,000 workers. The Velvet CARE Group will then have at its disposal 23 processing lines, three paper machines and five warehouses located in three production plants in Klucze, Słomniki and Žabčice (Czech Republic).

ALMUS is a family company, set up in 1997 that owns a production plant in Słomniki at a distance of approx. 50 km from the registered office of Velvet CARE in Klucze.

ALMUS has a modern production plant having at its disposal five processing lines with a capacity of 70,000 tons annually, where toilet paper, paper towels and professional products for institutional clients are manufactured from tissue. ALMUS is a supplier of products sold under private labels by commercial brands in Poland and abroad and a manufacturer of paper products under the Almusso brand.

Both Velvet CARE and ALMUS are united by their care for the high quality of products offered, good relations with commercial partners and ambitious development plans. Both companies are operating in the Małopolska Province and form a part of the Kraków Special Economic Zone (Kraków Technology Park).

The share acquisition transaction of ALMUS Sp. z o.o. is another important element of the adopted development strategy of Velvet CARE set out by the Management Board and its majority shareholder, Abris Capital Partners, aimed at consistent construction of a strong leader position in the paper industry in Central Europe. In the next steps, we are planning further develop our business at the markets in our region and continue to work on next strategic acquisitions.

Business cooperation with ALMUS will commence after signing the share sale agreement which will take place after the UOKiK approves the transaction.

Artur Pielak, president of Velvet CARE comments:

“Since the moment of its establishment, Velvet CARE has been consistently aiming for business development. The acquisition of ALMUS is a strategic decision that reinforces our position as a leader in the paper industry in the Central Europe region. After the historic moment in 2022, namely when the threshold of PLN 1 billion turnover was exceeded and after incorporating ALMUS in the structure of the Velvet CARE Group, the Management Board is ready to designate new ambitious goals. Another milestone that we plan to accomplish by 2025 is the turnover on the level of PLN 2 billion.”

Wojciech Starnawski, president of ALMUS adds:

“Thanks to the cooperation with Velvet CARE, we are opening a new chapter in the history of ALMUS – with respect to the further plans of the company’s development, new products, categories and extension of infrastructure. This is also an opportunity for procuring new clients in the country and abroad and establishing cooperation within the scope of production, including delivery of the top quality tissue manufactured in the Klucze plant. There will also be possibilities of professional growth for the employees as part of the extensive structures of Velvet CARE.”