Malvern disposable tissue products manufacturer Essential Supply Products (ESP) Ltd, has been bought by a leading Italian producer of tissue products for daily use.
Lucart Group has acquired 100 per cent of the share capital of ESP Ltd.
Lucart said that the investment will decisively strengthen Lucart’s leadership in the European Away from Home hygiene products market.
Massimo Pasquini, CEO of Lucart, said: “This operation is of strategic importance for the whole Group, as it allows us to consolidate our presence in the UK, which is the second-largest market in Europe for tissue products. Our financial solidity and the desire to pursue the Group’s strategic objectives, as well as the awareness that the difficulties we are experiencing at the moment in history should not make us lose our long-term vision – continued Pasquini – have enabled us to overcome the uncertainties generated by Brexit and the Covid-19 pandemic. We have completed an important further step for the future development of the entire Group”.
Founded in 1990, Essential Supply Products Ltd now has a turnover of around £26 million per annum. The company, with its head office and production plant in Malvern, employs 85 people on 5 different processing lines. The production facilities cover an area of 77,000 square metres, 15,000 of which are covered. Given their location, market and type of production, they will enable important synergies to be activated with the other Group plants.
Founder Carl Theakston said: “We have done deals over the years to enable us to compete at the highest level. However, the standard of investment required to make my ambitions for this company a reality needed an investor who shared our values and desire to grow the company sustainably and to its full potential. Lucart is a family-owned multinational company that has operated for almost 70 years. Its history, vision and commitment to sustainable development make it the ideal investor to ensure Essential Supply Products’ adventure continues now and for longer-term”.