Navigator Paper UK Limited launches public offer to acquire Accrol Group

Navigator Paper UK Limited has launched a public all-cash firm offer to acquire the entire issued and to-be-issued share capital of British tissue converter Accrol Group Holdings plc.

Accrol is a leading tissue converter and supplier of toilet tissues, kitchen rolls, facial tissues, and wet wipes to many of the UK’s leading discounters and grocery retailers across the UK. The Board of Directors of Accrol is recommending the offer, Navigator reported.

For the half-year ending 31 October 2023, Accrol had sales revenues of £100.3m and adjusted Ebitda of £10.2m. The company’s board forecast annual sales revenues of £205m and adjusted Ebitda of at least £21m for the current financial year.

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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