9th Apr 2021 11:04
(Alliance News) - Accrol Group Holdings PLC on Friday said it has completed the acquisition of John Dale Ltd, a flushable and biodegradable wet wipes business, for GBP3.9 million cash.
The toilet roll, kitchen roll and facial tissue products manufacturer based in Lancashire said the acquisition includes the 47,000 square feet property in Flint, North Wales, from which John Dale operates.
Accrol said John Dale is currently generating annualised revenue of GBP6.0 million and earnings before interest, tax, depreciation and amortisation of GBP600,000.
Following the acquisition, Accrol said its primary areas of focus will be the expansion of the anti-bacterial and anti-viral wet wipe ranges and optimisation of production facilities.
"John Dale fits our criteria for growth - quality of product and market positioning, operating excellence in its asset base, and the optimisation of our distribution strengths. It gives Accrol a ready-made platform on which to build a sizeable wet wipes operation and presents an unmissable opportunity for us to compound shareholder value," said Accrol Executive Chair Dan Wright.
Shares in Accrol were up 3.5% at 60.00 pence in London on Friday.
By Zoe Wickens; [email protected]
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