Blackburn tissue giants, Accrol acquired by The Navigator Company in £130m deal
A Lancashire-based leader in the tissue game has been taken over in a multi-million pound deal!
A Lancashire-based leader in the tissue industry has been bought by a large Portuguese company in a deal worth around £130 million.
Accrol Papers was established in 1993, originating in the town of Accrington before relocating to Blackburn in 1996 and to its present location in 2004 with a purpose built 65,000 sq ft factory.
Today, the business is the UK’s leading independent tissue converter, producing toilet tissue, kitchen towel, facial tissue, and biodegradable wet wipes.
Over recent months, Accrol has been in negotiations with Navigator Paper UK Ltd over a deal which would see the latter acquire all the shares representing the share capital of Accrol Group Holdings.
The company is an indirect subsidiary of The Navigator Company, a large Portuguese integrated paper, tissue and packaging company.
The result of these ongoing negotiations was announced this week, after Accrol's General Meeting which saw the offer approved with 99.12% of the votes
This has enabled the acquisition of 100% of the company's share capital which is expected to be effective on May 24.
Navigator’s final and increased offer for Accrol was valued at approximately £130.8 million (€152.1 million) and took into account Accrol’s half-year results and financial debts.
Navigator was listed on the Euronext Lisbon Stock Exchange, with a market capitalisation of approximately €2.75 billion as of March 21 2024.
This deal is part of Navigator's ambitious growth and diversification plan and reinforces its strategic position in the Western European tissue market.
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