Accrol Group Holdings PLC Completion of Acquisition (3909G)
November 25 2020 - 1:00AM
UK Regulatory
TIDMACRL
RNS Number : 3909G
Accrol Group Holdings PLC
25 November 2020
25 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 GBP1.7bn 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
accrolpr@belvederepr.com
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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END
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