Devonshire Corporate Finance Limited has acted as lead advisers in the sale of Kruger Inc’s UK business.
Kruger Inc is a major producer of publication papers, tissue, lumber and other wood products. It is a leader in paper and paperboard recycling in North America, but also operates facilities in the UK. An MBI team led by Paul Fecher acquired Kruger Inc’s UK operation following its decision to exit the UK tissue business.
The chairman and major shareholder in the acquired companies, said:
“We are pleased to have acquired Kruger’s operations in the UK which, with hard work, investment and re-direction, will grow to represent an even more important share of the UK market for recycled tissue and hygiene products. We look forward to working closely with the local management and experienced workforce to enhance the businesses further.
“Devonshire Corporate Finance introduced us to KBC Business Capital and provided us with invaluable advice. They worked as an integrated part of our team to complete the acquisition successfully.”
Kruger Inc, located at the Disley Mill near Stockport in Cheshire will now trade as Disley Tissue Limited. Disley Tissue Limited operates from a 47-acre site and consists of a tissue paper mill capable of manufacturing 24,500 tonnes of high-quality recycled tissue and 33,000 tonnes of de-inked pulp made from waste paper.
Kruger Tissue Industrial Limited, which operates from premises in Penygroes, North Wales, will now trade as Connect Hygiene Products Limited. Connect Hygiene Products Limited converts recycled tissue mother reels into toilet rolls and kitchen/industrial wiper rolls, and also markets a full range of hand towel products.
Kingston Smith LLP provided tax advice to Disley Tissue Limited and Connect Hygiene Products Limited, while Rosenblatt Solicitors provided legal advice.
