REG - Accrol Group Hldgs - Completion of Acquisition
RNS Number : 3909GAccrol Group Holdings PLC25 November 202025 November 2020
Accrol Group Holdings plc
("Accrol" or the "Company")
AIM: ACRL
Completion of the acquisition of Leicester Tissue Company Limited
Following the announcement made by the Company on the 23 November 2020 titled "Admission of Shares & Total Voting Rights" ("Announcement"), Accrol Group Holdings plc, a leading independent tissue converter in the UK, is pleased to announce that the Final Condition has now been satisfied and the Acquisition has now completed.
The capitalised terms used in this announcement have the same meanings as in the Announcement, unless otherwise stated.
Dan Wright, Executive Chairman of Accrol, said:
"We are delighted to announce the completion of this, our first acquisition. LTC fulfils all our selective M&A criteria. It's well-invested; it's ideally located, in central England; it has strong day-to-day management team; and its product mix and customer base are highly complementary to our existing business.
"The acquisition is immediately earnings enhancing and takes our share of the £1.7bn UK tissue market to c.16%. Importantly, it represents another milestone on our journey to build a world-class, operationally efficient business of size and scale, which delivers substantial returns to shareholders through organic and acquisitive growth. I would like to thank our existing and new shareholders for their support and confidence in our team and look forward to updating everyone on the progress of the integration in due course.
"On behalf of the team at Accrol, I welcome everyone at LTC to the Group and look forward to an exciting future working together."
For further information, please contact:
Accrol Group Holdings plc
Dan Wright, Executive Chairman
Via Belvedere Communications
Gareth Jenkins, Chief Executive Officer
Zeus Capital Limited (Nominated Adviser & Broker)
Dan Bate / Jordan Warburton
Tel: +44 (0) 161 831 1512
Dominic King / John Goold
Tel: +44 (0) 203 829 5000
Liberum Capital Limited (Joint Broker)
Tel: +44 (0) 20 3100 2222
Clayton Bush / Edward Thomas
Deloitte LLP (Financial Adviser)
Tel: +44 (0) 20 7936 3000
Andrew Westbrook / Chris Nicholls
Belvedere Communications Limited
Cat Valentine
Tel: +44 (0) 7715 769 078
Keeley Clarke
Tel: +44 (0) 7967 816 525
Llew Angus
Tel: +44 (0) 7407 023 147
Notes to Editors
Accrol Group Holdings plc, based in Lancashire, is a leading tissue converter and supplier of toilet tissues, kitchen rolls and facial tissues, as well as other tissue products, to major discounters and grocery retailers throughout the UK. The business operates from four sites in Lancashire:
·
A manufacturing, storage, and distribution facility in Blackburn;
·
A storage and administrative centre in Blackburn;
·
A facial tissue plant, also in Blackburn; and
·
A manufacturing, storage, and distribution facility in Leyland.
For more information, please visit www.accrol.com.
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