European paper giant Navigator Paper bids £127.5m for Blackburn tissue manufacturer Accrol

A bid to buy Blackburn-based tissue manufacturer Accrol has been made by a major European player in the sector.

The board of the AIM-listed group has recommended approval of the £127.5m offer by Navigator Paper.

The potential buyer is part of The Navigator Company SA, which is listed on the Euronext Lisbon Stock Exchange. The acquisition would create a business with £500m annual revenues.

The move follows just two months after the sale of Star Tissue, also of Blackburn, to a German-headquartered hygiene group.

Accrol Group Holdings plc (LON:ACRL) is the UK’s leading independent tissue converter, producing toilet tissue, kitchen towel, facial tissue and biodegradable wet wipes. The UK soft tissue market is worth £1.6bn with private label products comprising circa 50%. Accrol is the leading supplier to the private label market, which is growing at over 8% year on year.

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