We are pleased to announce that on May 28, 2018, the transaction to acquire the majority of shares of Velvet CARE Sp. z o.o. by Abris Capital Partners fund has been finalized. The Office of Competition and Consumer Protection has approved this transaction. Thus, a new era in the history of our company begins.
The acquisition procedure of majority shares of Velvet CARE, the leading manufacturer of cellulose personal hygiene products, by the Abris fund has just been completed and this means further strengthening of our company's dynamic development strategy, including international expansion within the Central and Eastern Europe region.
"We are pleased that from the moment of signing the contract, we have managed to successfully close the acquisition of Velvet CARE in less than three months. Our approach to this investment is consistent with our long-term investment strategy - make Velvet CARE a leading player in Central Europe. We are convinced that together with such an experienced team as Velvet CARE has, we will achieve this goal in a few years. " - says Paweł Gieryński, Managing Partner at Abris Capital Partners. Artur Pielak, President of the Board of Velvet CARE Sp. z o. o., comments: "One of our key principles inscribed in the company's DNA is to focus on the dynamic company development and on achieving ambitious goals. Therefore, we feel responsible for the selection of business partners who will help us to fulfill these goals. While opening the next chapter in the company's history, this time with our new partner Abris Capital Partners, we share a similar approach to business. We will continue to focus on international expansion through the acquisition of strategic entities in our region, as well as through organic development in selected markets of Western Europe. "