Lucart Acquires Hygiene Products Maker Essential Supply Products in England

ESP has headquarters and a production plant located in the town of Malvern, Worcestershire, England, and is one of the UK's leading independent manufacturers and converters of disposable tissue products.

March 3, 2021 - Lucart today announced the acquisition of 100% of the share capital of Essential Supply Products Ltd. (ESP), one of the UK's leading independent manufacturers and converters of disposable tissue products.

Terms of the deal, which closed on March 1, were not disclosed.

Founded in 1990, ESP has headquarters and a production plant located in the town of Malvern, Worcestershire, England. Currently, the company has a turnover of around 30 million Euros per year.

Lucart explained that the acquisition of ESP is in line with its strategic plan to position itself as a primary player in the European Away-from-Home tissue products market.

"The operation is of strategic importance for the entire Group because it allows us to consolidate our presence in Great Britain; that is the second-largest market in Europe for tissue paper products," said Massimo Pasquini, CEO of Lucart.

Carl Theakston, Founder of ESP, said, "Over the years, we have made numerous transactions to allow ESP to continue to compete at the highest level. However, I realized that the standard of investment required to make my ambitions for this company a reality needed an investor who shared ESP's family values and had the vision and desire to grow the company sustainably and to its full potential."

Lucart is a European producer of MG paper, tissue products and airlaid products. The Group produces more than 395,000 tonnes of paper per year from 12 paper machines. To learn more, visit: www.lucartgroup.com.

SOURCE: Lucart