Velvet CARE
Established: 2013
Country: Poland
Region: Lesser Poland
Investors: Abris Capital Partners
Headquartered in Klucze, Poland, Velvet CARE manufactures paper hygiene products including tissues, toilet paper and kitchen paper towels, and is the owner of the highly regarded Velvet brand in Poland. The company was established in 2013 but its origins date to 1897, including a period of 17 years under the ownership of International Paper and Kimberly Clark.
During Abris’ investment, Velvet CARE grew by 2.5 times in revenue and more than five times in EBITDA, and expanded its export business fivefold, significantly exceeding the original investment case in terms of financial results and strategic development. In 2020, the company completed the add-on acquisition of Moracell, the largest manufacturer of paper hygiene products in Czechia.
>€130m
invested in capex
900+
employees; 50% increase
30
countries market
Our close working relationship with Abris over the past five years has allowed us to significantly strengthen our market position. During this time Velvet CARE has grown stronger, going far beyond our initial ambitions.
Key achievements
Increased revenues by 2.5x and EBITDA by more than 5x
Increased exports by 4.7x
Completed the add-on acquisition of Moracell in Czechia
Achieved B Corp certification for Velvet CARE, becoming the first large manufacturer in its sector to gain this accreditation
Funding history
A total of +€130 million invested in capex
Employment impact
Increase in total number of employees by almost 50% to 900+ employees
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